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Danube
Danube.com reported the following amounts in its financial statements (in millions):
2015 2014 Net Sales $77,000 $64,000 Cost of Goods Sold 62,000 49,000 Beginning Inventory 5,700 3,700 Ending Inventory 7,100 5,700 ?
How to determine the inventory turnover ratio and average days to sell inventory for 2015 and 2014?
Expert Solution
Inventory turnover ratio for 2015 = 9.69 times
For 2014 = 10.43 times
Average days to sell inventory for 2015 = 37.68 days
For 2014 = 35.01 days
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