Early in 2022, Blossom Company switched to a just-in-time
inventory system. Its sales and inventory amounts for 2021 and 2022
are shown below.
2021
2022
Sales revenue
$3,450,000
$3,900,000
Cost of goods sold
1,292,000
1,858,500
Beginning inventory
155,000
225,000
Ending inventory
225,000
90,000
Determine the inventory turnover for 2021 and 2022.
(Round answers to 1 decimal place, e.g.
5.1.)
2021
2022
Inventory turnover
Determine the days in inventory for 2021 and 2022.
(Round answers to 1 decimal place, e.g.
5.1.)...