Business, 03.12.2021 01:00 amylumey2005

Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current YearPrevious Year Sales$18,500,000 $20,000,000 Beginning inventories940,000 860,000 Cost of goods sold9,270,000 10,800,000 Ending inventories1,120,000 940,000 a. 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 final answers to one decimal place. Assume 365 days a year. Current YearPrevious Year 1. Inventory turnoverfill in the blank 1 fill in the blank 2 2. Number of days' sales in inventoryfill in the blank 3 daysfill in the blank 4 days b. The inventory position of the business has . The inventory turnover has , while the number of days' sales in inventory has . The sales volume has faster than the inventory, resulting in a

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

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