Broadway Communications reported the following figures in its annual financial s

Question

Broadway Communications reported the following figures in its annual financial statements: ?(Click the icon to view the figures.) Compute the rate of inventory turnaver and days' sales in inverntory for Broadway Communications. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory tumover (Enter the amount for average inventory to one decimal place, X.X, Round your answer to two decimal places, X.Xx.) Inventory tumover Sme Seloct the labels and enter the amounts to compute the days' sales in inventory for the year. (Round your answer to two decimal places, XXX) Days' sales in inventory days Data Table Cost of Goods Sold $ 18,400 Ending Merch andise l 470 Print Done

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Beginning Inventory                  560.00 Ending Inventory                  470.00 Average inventory = (560 + 470)/2                  515.00 Cost of goods sold            18,400.00 Inventory turnover = 18400/515                    35.73 Days in Inventory = 365/35.73                    10.22

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