Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $156,748; beginning inventory $108,738; cost of goods sold $348,930 and sales revenue $757,813.
Required:
a. Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places, e. g. 5.12.)
b. Calculate the days in inventory for Oakley, Inc. (Round days in inventory to 0 decimal places, e. g. 125.)
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