Homework Answers
Answer to 1
New Home's Inventory turnover rate for the year
= Sales Revenue
Average Inventory
= Sales Revenue
( Beginning Merchandise Inventory + Ending Merchandise Inventory)/2
= 120000
(9200+13800)/2
= 120000
11500
= 10.43
Answer to 2
Let us assume number of days in a year is 365 days
New Home's days' sales in turnover for the year
= 365
Inventory turnover ratio
= 365
10.43
= 34.99 days or 35 days
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