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Assignment - Inventory Analysis Question

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Assignment - Inventory Analysis Question

The following data were extracted from the income statement of Keever Inc.:

 

Current Year

Previous Year

Sales

$890,600

$932,900

Beginning inventories

64,100

44,196

Cost of goods sold

445,300

518,300

Ending inventories

57,900

64,100

Required - Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year.

Reference no: EM132438273

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