1. The 2014 balance sheet of Blue Moon, Inc. shows its net fixed assets account for $2,907,000 and the previous year, 2013, its net fixed assets was $2,656,000. The company took $422,000 in depreciation expense for year 2014. For that year, Blue Moon spent $_______ in purchasing fixed assets.
Hint: Net investment FA = (End NFA - Beg NFA) + Depreciation
2. Blue Moon Inc. in 2014 had ending inventory of $435,000, sales of $4,215,000, and cost of goods sold at $2,139,000. Then, the days' sales in inventory is _______ days; that is, a unit of inventory sat on the shelf for ______ days on average before it was sold.
Hint: First compute the inventory turnover ratio and then use it to compute the days' sales in inventory.