The Following Information Is Available for the McCartney Corporation Calculate the Company's Inventory Turnover and Its Days' Sales in \text

Essay

The following information is available for the McCartney Corporation:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 750,000 \\\hline \text { Cost of goods sold } & 450,000 \\\hline \text { Gross profit } & 300,000 \\\hline \text { Operating income } & 85,000 \\\hline \text { Net income } & 42,000 \\\hline \text { Inventory, beginning-year } & 71,200 \\\hline \text { Inventory, end-of-year } & 48,800\\\hline \end{array}$

Calculate the company's inventory turnover and its days' sales in inventory.