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The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 593,825 $ 376,650 $ 341,300 Ending inventory
The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 593,825 $ 376,650 $ 341,300 Ending inventory 101,400 91,750 96,500 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?
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