A company reported the following data:
Required:
1.Calculate the days' sales in inventory for each year.
2.Comment on the trend in inventory management.
Definitions:
Current Liabilities
Financial obligations that a company is required to pay within one year or within its current operating cycle.
Percent Change
A mathematical calculation that shows how much something has increased or decreased in value or quantity over time, expressed as a percentage.
Base Year
A reference year used for comparative financial analysis, serving as a benchmark for evaluating changes over time.
Sales
The activities involved in selling goods or services in return for money or other compensation.
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