Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $153,244; beginning inventory $111,964; cost of goods sold $324,929 and sales revenue $803,091.
Part 1) Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places)
Part 2) Calculate the days in inventory for Oakley, Inc. (Round days in inventory to 0 decimal places)