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Determine the days sales in inventory

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Question - Financial statement data for years ending December 31 for Amsterdam Company follow:

 

20Y4

20Y3

Cost of merchandise sold

$3,598,900

$3,015,630

Inventories:

 

 

Beginning of year

593,000

589,600

End of year

648,000

593,000

a. Determine the inventory turnover for 20Y4 and 20Y3.

b. Determine the days' sales in inventory for 2014 and 20Y3. Assume 365 days a year.

c. Does the change in the inventory turnover and the days' sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable trend?

Reference no: EM133129635

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