Inventory Analysis

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Question: Inventory Analysis The following data were extracted from the income statement of Brecca Systems …
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The following data were extracted from the income statement of
Brecca Systems Inc.:

Current Year Previous Year
Sales $1,314,000 $1,366,600
Beginning inventories 92,420 67,208
Cost of goods sold 657,000 759,200
Ending inventories 83,620 92,420

a. Determine for each year (1) the inventory
turnover and (2) the number of days’ sales in inventory. Round
interim calculations to the nearest dollar and the final answers to
one decimal place. Assume 365 days a year.

Current Year Previous Year
1. Inventory turnover
2. Number of days’ sales in inventory days days

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