170. The following data were taken from Bowman Inc.
2014 Cost of Merchandise Sold $894,000 Inventory, end of year 78,000 Inventory, beginning of the year 92,000 Determine the inventory turnover ratio and the number of days’ sales in inventory for Bowman Inc. Round to two decimal places.171. Based on the following information, compute (a) Inventory turnover; (b) Average daily cost of merchandise sold using a 365 day year; and (c) Number of days’ sales in inventory. April 30, 2012 Cost of merchandise sold $195,640 Inventory: Beginning 20,500 Ending 18,628