A company reports the following:   Cost of goods sold $3,960,250   Average inventory 255,500 Round your answers to one decimal place. a.  Determine the inventory turnover. Assume a 365-day year. fill in the blank 1 b.  Determine the number of days' sales in inventory. Assume a 365-day year. fill in the blank 2

Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter14: Financial Statement Analysis
Section: Chapter Questions
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A company reports the following:

  Cost of goods sold $3,960,250
  Average inventory 255,500

Round your answers to one decimal place.

a.  Determine the inventory turnover. Assume a 365-day year.
fill in the blank 1

b.  Determine the number of days' sales in inventory. Assume a 365-day year.
fill in the blank 2

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