Reference no: EM132578196
Question - Inventory Turnover and Days' Sales in Inventory The Southern Company installed a new inventory management system at the beginning of 2012. Shown below are data from the company's accounting records as reported out by the new system:
2012 2013
Sales Revenue $13,000,000 $15,000,000
Cost of Goods Sold 9,000,000 9,900,000
Beginning Inventory 1,000,000 1,300,000
Ending Inventory 1,300,000 1,100,000
Required - Calculate the company's (a) inventory turnover and (b) days' sales in inventory for 2012 and 2013.
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