1. Suppose a firm has had the following historic sales figures. Year: 2012 2013 2014 2015 2016 Sales $3,500,000 $3,750,000 $3,400,000 $4,000,000 $3,600,000 What would be the forecast for next year’s sales using the naïve approach?
2. Dabble, Inc. has sales of $987,000 and cost of goods sold of $647,000. The firm had a beginning inventory of $39,500 and an ending inventory of $49,500. What is the length of the days’ sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places.)