Based on the following information: compute (a) inventory turnover; (b) average daily cost of goods sold; and (c) number of days' sales in inventory for the current year. Use a 365-day year. (d) If an inventory turnover of 12 is average for the industry, how is this company doing?

Average Daily Cost

The average amount of expenses incurred in a day, calculated over a specified period.

Inventory Turnover

A ratio indicating how many times a company's inventory is sold and replaced over a certain period, measuring efficiency in managing stock.

Days' Sales

A financial ratio that measures the average time it takes for a company to convert its inventory into sales.