Reference no: EM132378584
Question
The following data were taken from the income statements of Mydorf Company.
2020 2019
Sales revenue $6,340,000 $6,300,000
Beginning inventory 960,000 860,000
Purchases 4,311,000 4,650,000
Ending inventory 1,050,000 960,000
Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)
2020 2019
Inventory turnover
times
times
Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)
2020 2019
Days in inventory
days
days
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