The following information is available for the McCartney Corporation: Sales: $750,000 Costs of goods sold: $450,000 Gross Profit: $300,000 Operating income: $85,000 Net income: $42,000 Inventory

The following information is available for the McCartney Corporation:

Sales: $750,000

Costs of goods sold: $450,000

Gross Profit: $300,000

Operating income: $85,000

Net income: $42,000

Inventory, beginning-year $71,200

Inventory, end of year: $48,800

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

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