The following data are taken from the financial statements:Current YearPreceding YearSales$3,600,000$4,000,000Cost of goods sold2,000,0002,700,000Beginning inventory372,000352,000Inventory, end of year390,000372,000a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory.1. The inventory turnover: (If required, round your answers to one decimal place.)Current YearPreceding Year2. The number of days' sales in inventory: Assume a 365-day year. (Round your intermediate calculation to whole number and finalCurrent YeardaysPreceding Yeardaysb. Comment on the favorahle an ssay feb 23 - Google Docs* CengageNOWv2 | Online teach xn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator-&inprogress-false* 三UpdateThe TollowIng data are taken trom the financlal statementstCurrent YearPreceding YearSales$3,600,000$4,000,000Cost of goods sold2,000,0002,700,000Beginning inventory372,000352,000Inventory, end of year390,000372,000a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory.1. The inventory turnover: (If required, round your answers to one decimal place.)Current YearPreceding Year2. The number of days' sales in inventory: Assume a 365-day year. (Round your intermediate calculation to whole number and final answers to two decimal places.)Current YeardaysPreceding Yeardaysb. Comment on the favorable and unfavorable trends revealed by the data.and the number of days' sales in inventorywhile gross profitThe inventory turnoverSaleswhich are unfavorable trends.Previous

Name: The following data are taken from the financial statements:Current Ye
Uploaded: 2024-03-04T10:43:15.000Z
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Description: The following data are taken from the financial statements:Current YearPreceding YearSales$3,600,000$4,000,000Cost of goods sold2,000,0002,700,000Beginning inventory372,000352,000Inventory, end of year390,000372,000a. Determine for each year (1) the