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Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: a. Determine the inventory turnover for 20Y7 and 20Y6. Round your answers to one decimal place. b. Determine the days' sales in inventory for 20Y7 and 20Y6. Use 365 days a year. Round your answers to one decimal place. c. Are the changes in inventory turnover and the number of days' sales in inventory from 20Y6 to 20Y7 favorable or unfavorable? Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31 x X Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: There are 17 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Round average unit cost to the nearest cent and final answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first-in, first-out method. b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. Round average unit cost to the two decimal places, and round your final answer to the nearest dollar. 5

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