Financial statement data for years ending December 31 for

Holland #6907
Financial statement data for years ending December 31 for Holland

Financial statement data for years ending December 31 for Holland Company follow:

_______________________________ 20Y4 _______________ 20Y3

Cost of merchandise sold ............ $4,504,500 ............ $3,715,200

Inventories:

Beginning of year ....................... 788,000 ................. 760,000

End of year .............................. 850,000 ................. 788,000

a. Determine the inventory turnover for 20Y4 and 20Y3.

b. Determine the days' sales in inventory for 20Y4 and 20Y3. Use 365 days and round to one
decimal place.

c. Does the change in inventory turnover and the days' sales in inventory from 20Y3 to 20Y4
indicate a favorable or an unfavorable trend?

Financial statement data for years ending December 31 for Holland

ANSWER
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