Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which...
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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 Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory 2016 $5,200 4,100 520 590 2015 $5,260 4,000 430 520 Required: 1. Determine the inventory turnover ratio and average clays to sell Inventory for 2016 and 2015 (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2016 Inventory Turnover Ratio Days to Sell times per year days 2015 times per year days
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