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Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which...

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Accounting

Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions): 2013 2012 Net Sales $ 5,800 $ 5,860 Cost of Goods Sold 4,700 4,600 Beginning Inventory 560 460 Ending Inventory 630 560 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)

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