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Inventory Turnover and Days' Sales In Inventory Financial statement data for years ending December 31...

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Inventory Turnover and Days' Sales In Inventory Financial statement data for years ending December 31 for Amsterdam Company follow: 2014 2013 Cost of merchandise sold $943,160 $588,234 Inventories: Beginning of year 203,670 142,350 End of year 292,730 203,670 a. Determine the inventory turnover for 2014 and 2073. Round to one decimal place. Inventory Turnover 2014 2093 b. Determine the days' sales in inventory for 2014 and 2073. Assume 365 days a year. Round interim calculations and final answers to one decimal place. Days' Sales In Inventory 2014 2093 c. Does the change in the inventory turnover and the days sales in inventory from 2013 to 2044 indicate a favorable or an unfavorable trend? days days Favorable | Unfavorable Check My Work uses remaining Previous Next >

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