At December 31, 2007, the following information (in thousands) was available for sunglasses entrepreneur Sunshields Inc.: ending inventory $115,472; origin inventory $98,367; cost of goods sold $260,308; and sale revenue $581,465. Calculate the following: (Round the inventory turnover ratio to 2 decimal places and the days in inventory to 0 decimal places.)

Inventory turnover ratio_________
Days surrounded by inventory __________ days

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Answers:    Inventory Turnover:
=cost of sales / ((inventory, starting point + inventory ending) / 2)
=$260308 / $106919.50
= 2.43 times

Days in inventory:
= ((inventory, naissance + inventory ending) / 2) / (cost of sales / 365)
= $106919.50 / 713.17
=150 days
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