Your company sells $749,300 of goods during the year at a cost of goods sold of $538,600. Inventory was $31,183 at the beginning of the year and $35,438 at the end of the year.
1.What is the inventory turnover ratio?
2.How long on average does it take to sell something from inventory after it is purchased? (Use 365 days in a year. Do not round your intermediate calculations. Round your final answer to one decimal place.)