Aegis Industries Ic., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2013 $5,000 $4,460 $3,790 $3,370 3,940 2012 2014 2015 Net Sales Revenue Cost of Goods Sold 4,430 500 3,420 390 2,970 Average Inventory 450 380 Required: 1-a. Calculate the inventory turnover ratio for 2015, 2014, and 2013. 1-b. Calculate the average days to sell inventory for 2015, 2014, and 2013. 2. Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 7.2 times in 2015 (50.7 days to sell). Both companies use the same inventory costing method (FIFO). Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 7.2 times in 2015 (50.7 days to sell). Both companies use the same inventory costing method (FIFO). OYes ONo

Aegis Industries Ic., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2013 $5,000 $4,460 $3,790 $3,370 3,940 2012 2014 2015 Net Sales Revenue Cost of Goods Sold 4,430 500 3,420 390 2,970 Average Inventory 450 380 Required: 1-a. Calculate the inventory turnover ratio for 2015, 2014, and 2013. 1-b. Calculate the average days to sell inventory for 2015, 2014, and 2013. 2. Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 7.2 times in 2015 (50.7 days to sell). Both companies use the same inventory costing method (FIFO). Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 7.2 times in 2015 (50.7 days to sell). Both companies use the same inventory costing method (FIFO). OYes ONo

Name: Aegis Industries Inc., is the biggest snowmobile manufacturer in the
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Description: Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements(in millions):2012201320142015Net Sales Revenue$5,000 $4,460 $3,790 $3,3702,9703803,420390Cost of Goods Sold4,43

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.15E

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