The inventory of Regatta Company averages $1,315,500 at cost.During 2014,sales of $6,995,990 were made at 35 percent above cost.
Using the given data,compute the following:
(1)Inventory turnover rate for 2014.
(2)Number of days' sales in inventory.

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The Answer of The inventory of Regatta Company averages $1,315,500 at cost.During 2014,sales of $6,995,990 were made at 35 percent above cost.
Using the given data,compute the following:
(1)Inventory turnover rate for 2014.
(2)Number of days' sales in inventory.

The Inventory of Regatta Company Averages $1,315,500 at Cost