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
Answer & Explanation
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