Annie's Attic reported the following data: 
Instructions:
(1)Calculate the days' sales in inventory for each year,rounded to the nearest full day.
(2)Comment on the trend in inventory management.
Definitions:
Identifiable Net Assets Method
A valuation method that calculates an entity's value based on the fair value of its identifiable tangible and intangible assets minus its liabilities.
Contingent Consideration
An obligation to transfer additional assets or equity instruments upon the fulfillment of certain conditions in a business combination.
Consolidated Retained Earnings
The cumulative amount of profits retained in the company and its subsidiaries after dividends are paid, as shown in the consolidated financial statements.
Net Income
The amount of money a company earns after deducting all expenses and tax obligations from its revenues.
Q22: Discuss the two alternate methods used to
Q23: Adjusting entries may affect only balance sheet
Q26: Operating expenses are classified into two categories:
Q29: _ is the amount reported in the
Q30: The payee is the person who signs
Q63: The agreed cost of an item to
Q68: An advantage of the moving weighted-average method
Q88: Princess Company uses a Sales Journal,a Purchases
Q112: The current ratio:<br>A) Is current assets divided
Q135: Vanderet's Computer Business owns computer equipment which