1. Marlate Co. has ending inventory of $352,600, and cost of goods sold for the year just ended was $1,480,920. What is the inventory turnover? How long on average did a unit of inventory sit on the shelf before it was sold (days' sales in inventory)?
2. You plan on going on a 3 month vacation 8 months from now. You can pay $4,500 per month during the vacation, or you can pay $13,000 today. Which alternative should you take and how much does it save you in present value term if your investments earn 3.00% APR (compounded monthly)?