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The following is information for Palmer Co. Cost of goods sold Ending inventory Year 3 $578,825 102,900 Year 2 $361,650 93,250 Year 1 $326,300 98,000

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The following is information for Palmer Co. Cost of goods sold Ending inventory Year 3 $578,825 102,900 Year 2 $361,650 93,250 Year 1 $326,300 98,000 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2 (a) Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Numerator 1 Denominator Ratio Inventory turnover Days' sales in inventory (b) Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Numerator / Denominator Ratio Inventory turnover Days' sales in inventory

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