Homework Answers
Inventory Turnover = Cost of Goods Sold/Average inventory
| 20Y7 | 20Y6 | |
|---|---|---|
| Inventory Turnover |
= 3,756,945/[(759,200+839,500)/2] = 4.7 |
= 3,965,725/[(737,300+759,200)]/2 = 5.3 |
B.
Days in inventory = 365/Inventory Turnover
| 20Y7 | 20Y6 | |
|---|---|---|
| Days in inventory |
= 365/4.7 = 77.7 days |
= 365/5.3 = 68.9 days |
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