Question: please show calculations inventory turnover and days sales in inventory...
PLEASE SHOW CALCULATIONS
Inventory Turnover and Days' Sales in Inventory The Southern Company installed a new inventory management system at the beginning of 2012. Shown below are data from the company's accounting records as reported out by the new system: 2012 2013 Sales Revenue $11,800,000 $12,000,000 Cost of Goods Sold 1,140,000 1,190,000 Beginning Inventory 500,000 530,000 Ending Inventory 530,000 600,000
Calculate the company's (a) inventory turnover and (b) days' sales in inventory for 2012 and 2013.
Round your answer to two decimal points.
Days' sales in inventory