(Answered) The following data are from the income statements of ellen

Finance

The following data are from the income statements of Ellen Noodles Company:

Sales	$6,420,000	$6,240,000
Beginning inventory	960,000	860,000
Purchases	4,540,000	4,661,000
Ending inventory	1,020,000	960,000

(a) Compute for each year (1) the inventory turnover and (2) the average days to sell the inventory.

(b) What conclusions concerning the management of the inventory can be drawn from these data?

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