Danube reported the following amounts in its financial statements (in millions): 2015 2014 net sales $ 80,000 $ 67,000 cost of goods sold 65,000 52,000 beginning inventory 6,000 4,300 ending inventory 7,800 6,000 required: determine the inventory turnover ratio and average days to sell inventory for 2015 and 2014. (use 365 days in a year. round your intermediate and final answers to 1 decimal place.)

2014:

Inventory TO10.10

Days outstanding: 36

2015:

Inventory TO9.42

Days on Inventory39

Explanation:

2014:

where:

COGS      52,000

beginning: 4,300

ending:     6,000

Average Inventory   5, 150

Inventory TO10.09708738

Days on Inventory36

2015:

COGS:      65,000

beginning:  6,000

ending:       7,800

Inventory6900

Inventory TO9.420289855

Days on Inventory39

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answer; organizational;