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Compute for each year the days in inventory

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Brief Exercise 18-12 The following data are from the income statements of Haskin Company.

2017 2016
Sales revenue
 $6,480,000 $6,110,000
Beginning inventory 985,000 830,000
Purchases 4,370,000 4,700,000
Ending inventory 1,030,000 985,000

Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)

Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)

Reference no: EM131822333

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