CChapter 6 Accounting for Inventp6-5A. Inventory Turnover and Days’ Sales in Inventory The Southern Corporation installed a new in- LOventory management system at the beginning of 2018. Shown below are data from the company’saccounting records as reported by the new system:20182019Sales revenue. . .Cost of goods sold .$19,000,000$20,000,000Beginning inventory8,600,0009,200,000Ending inventory . . ..2,500,0002,530,0002,530,0002,600,000Calculate the company’s (a) inventory turnover (round to three decimal places) and (b) days’ sales ininventory for 2018 and 2019. Comment on your results.
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