17) 2012 ending inventory is $25,000; 2013 ending inventory is $19,500; 2014 ending inventory is $22,000; and cost of goods sold is $65,500 for 2014 and $67,900 for 2013. What is the days in inventory...

17) 2012 ending inventory is $25,000; 2013 ending inventory is $19,500; 2014 ending inventory is $22,000; and cost of goods sold is $65,500 for 2014 and $67,900 for 2013. What is the days in inventory for 2013 and 2014? Has it improved?

18) If a company has an inventory turnover rate of 4, how often is the company selling its inventory in months?

19) Gross profit is $40,000; beginning inventory is $16,500; ending inventory is $20,800; and sales are $120,000. The industry average has an inventory turnover of 4.8. How is the company doing with its inventory management as compared to the industry?

20) What can a poor or declining inventory turnover tell you?