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  3. 3.) danube.com reported the following amounts

3.) Danube.com reported the following amounts in its financial statements (in...

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Accounting

3.)

Danube.com reported the following amounts in its financial statements (in millions):

2012 2011
Net Sales $ 66,000 $ 53,000
Cost of Goods Sold 51,000 43,500
Beginning Inventory 5,500 3,700
Ending Inventory 6,200 5,500

Required:
1.

Determine the inventory turnover ratio and average days to sell inventory for 2012 and 2011. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)

2012 2011
Inventory Turnover Ratio
Days to Sell

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