# Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year...

###### Question:

Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $890,600$932,900 Beginning inventories 61,704 47,914 Cost of goods sold 445,300 518,300 Ending inventories 55,904 61,704 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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