Inventory Turnover and Days' Sales in Inventory The Southern Companyinstalled a new inventory management system at the beginning of 2015.Shown below are data from the company's accounting records as reportedout by the new system:20152016Sales RevenueCost of Goods Sold 4,000,000 4,800,000Beginning Inventory 510,000 53,000Ending Inventory 530,000 600,000$8,000,000 $11,000,000Calculate the company's inventory turnover for 2015 and 2016.Round your answer to two decimal points.20152016Inventory turnover

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Asked Mar 4, 2019
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Inventory Turnover and Days' Sales in Inventory The Southern Company
installed a new inventory management system at the beginning of 2015.
Shown below are data from the company's accounting records as reported
out by the new system:
2015
2016
Sales Revenue
Cost of Goods Sold 4,000,000 4,800,000
Beginning Inventory 510,000 53,000
Ending Inventory 530,000 600,000
$8,000,000 $11,000,000
Calculate the company's inventory turnover for 2015 and 2016.
Round your answer to two decimal points.
2015
2016
Inventory turnover
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Inventory Turnover and Days' Sales in Inventory The Southern Company installed a new inventory management system at the beginning of 2015. Shown below are data from the company's accounting records as reported out by the new system: 2015 2016 Sales Revenue Cost of Goods Sold 4,000,000 4,800,000 Beginning Inventory 510,000 53,000 Ending Inventory 530,000 600,000 $8,000,000 $11,000,000 Calculate the company's inventory turnover for 2015 and 2016. Round your answer to two decimal points. 2015 2016 Inventory turnover

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Expert Answer

Step 1

Calculate the average inventory for the year 2015 and 2016:

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Step 2

Calculate the inventory turnover ratio f...

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