1. The following data are taken from the financial statements: Current Preceding Year Year Net sales $3,592,000 $4,056,000 Cost of goods...
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(2) the days' sales in inventory. Round inventory turnover answers to one decimal place and number of days' sales in inventory, (including intermediate calculations) to two decimal places.

8118248-347186.jpeg

1. The following data are taken from the financial statements:
Current
Preceding
Year
Year
Net sales
$3,592,000
$4,056,000
Cost of goods sold
2,092,000
2,656,000
Average monthly inventory
332,000
328,000
Inventory, end of year
372,000
347,000
(a) Determine for each year (1) the inventory turnover and (2) the number of days'
sales in inventory

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