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A Company Reports the Following  Cost of goods sold $610,000 Average inventory 80,000\begin{array}{lr}\text { Cost of goods sold } & \$ 610,000 \\\text { Average inventory } & 80,000\end{array}

question 67

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A company reports the following:  Cost of goods sold $610,000 Average inventory 80,000\begin{array}{lr}\text { Cost of goods sold } & \$ 610,000 \\\text { Average inventory } & 80,000\end{array}
Determine the (a) inventory turnover, and (b) number of days' sales in inventory. Round your answer to one decimal place.


Definitions:

Regression Equation

A mathematical formula used to predict a variable based on the relationship with one or more other variables.

Y-Intercept

The spot on a graph at which a line meets the Y-axis.

Drivers' Average Speed

The mean speed calculated from the speeds of multiple drivers over a defined distance or period of time.

Number of Accidents

The count of unintended events within a specified period that result in damage or injury.

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