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The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $603,825 $386,650 $351,390 Ending inventory 180,400 90,750 95,500
The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $603,825 $386,650 $351,390 Ending inventory 180,400 90,750 95,500 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. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in inventory? Use the above information to compute inventory turnover for Year 2 , and its days sales in inventory at December 31, Year 2. Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31 , Year 3. Inventory
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