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Business, 16.03.2020 19:31 tmkyer2

Harman International Industries is a world-leading producer of loudspeakers and other electronics products, which are sold under brand names like JBL, Infinity, and Harman/Kardon. The company reported the following amounts in its financial statements (in millions): 2016 2015 Net Sales $ 6,910 $ 6,155 Cost of Goods Sold 4,820 4,340 Beginning Inventory 695 665 Ending Inventory 705 695 Required: Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)

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