## Answers

Current Year | Previous Year | |||

Cost of Goods Sold (a) | $445,300 | $518,300 | ||

Average Inventory ([$61,704+$55,904]/2); ([$47,914+$61,704]/2) (b) | $58,804 | $54,809 | ||

Inventory Turnover (a/b) | 7.6 | 9.5 | ||

Average Inventory ([$61,704+$55,904]/2); ([$47,914+$61,704]/2) (a) | $58,804 | $54,809 | ||

Cost of Goods Sold (b) | $445,300 | $518,300 | ||

Number of Days in a year (c ) | 365 | 365 | ||

Number of days sales in inventory (a / b * c) | 48 | Days | 39 | Days |

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