$ millions Inventory Cost of sales Apple Current Year One Year Prior $ 3,956 163,756 $4,106 161,782 Two Years Prior $ 4,855 141,048 Google Current Year One Year Prior $ 1,107 59,549 $999 71,896 Two Years Prior $749 45,583 Required: 1. Compute inventory turnover for each company for the most recent two years shown. 2. Compute days' sales in inventory for each company for the three years shown. 3. Did the current year inventory turnover underperform or outperform the industry's average turnover of 15 in the case of (a) Apple and (b) Google?

$ millions Inventory Cost of sales Apple Current Year One Year Prior $ 3,956 163,756 $4,106 161,782 Two Years Prior $ 4,855 141,048 Google Current Year One Year Prior $ 1,107 59,549 $999 71,896 Two Years Prior $749 45,583 Required: 1. Compute inventory turnover for each company for the most recent two years shown. 2. Compute days' sales in inventory for each company for the three years shown. 3. Did the current year inventory turnover underperform or outperform the industry's average turnover of 15 in the case of (a) Apple and (b) Google?

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Description: please answer do not image. $ millionsInventoryCost of salesAppleCurrent Year One Year Prior$ 3,956$ 4,106161,782163,756(a) Apple(b) GoogleTwo YearsPrior$ 4,855141,048Complete this question by entering your answers in the tabs below.Inventory Turnove

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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igagenow.com/ilrn/takeAssignment/takeAssignmentMain.. A 3|企田 Chapter 10 Lab Application eBook Compute Altoona Company's (a) inventory turnover ratio and (b) number of days' sales in inventory ratio, using the following information. Use 365 days year. Round your intermediate calculations to 2 decimal places and final answers to 1 decimal place. Cost of Goods Sold $729,000 Beginning Inventory 51,000 Ending Inventory 75,000 (a) Inventory Turnover Ratio 11.5 (b) Number of Days' Sales in Inventory Ratio 37.5 Previous Next Check My Work 0 more Check My Work uses remaining. 10:03 P 3/31/20 acer
< eBook Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: Cost of goods sold Inventories: Beginning of year End of year Required Show Me How Unfavorable 20Y7 $3,864,000 Feedback 770,000 840,000 a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. 20Y6 $4,001,500 20Y7 Check My Work 740,000 770,000 Inventory turnover b. Determine the number of days' sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. 20Y6 Number of days' sales in inventory days days c. Are the changes in inventory turnover and the number of days' sales in inventory from 20Y6 to 20Y7 favorable or unfavorable? 20Y7 20Y6 Check My Work a. The inventory turnover ratio indicates how many times a company has sold and replaced inventory during a period. The inventory turnover ratio is calculated by dividing the cost of goods sold for a period by period. b. Number of days' sales in…
Solve for the missing information designated by "?" in the following table. (Use 365 days in a year. Round the inventory turnover ratio to one decimal place before computing days to sell. Round days to sell to one decimal place.) Case a. b. C. $ $ Beginning Inventory Purchases 112 $ 224 SA Cost of Goods Sold 1,120 $ $ $ 8.0 Days to Sell 36.5
Solve for the missing information designated by "?" in the following table. (Use 365 days in a year. Round the inventory turnover ratio to one decimal place before computing days to sell. Round days to sell to one decimal place.) Case a. $ b. $ C. Beginning Inventory Purchases Cost of Goods Sold Ending Inventory Inventory Turnover Ratio Days to Sell 104 $ 1,040 $ 936 208 $ 1,664 $ 1,010 $ 150 8.0 36.5
Solve for the missing information designated by "?" in the following table. (Use 365 days in a year. Round the inventory turnover ratio to one decimal place before computing days to sell. Round days to sell to one decimal place.) Case Beginning Inventory Purchases Cost of Goods Sold Ending Inventory Inventory Turnover Ratio Days to Sell a. $ 130 $ 730 $ 690 b $ 230 $ 1,320 C $ 1,120 $ 135 6.6 32.6
eBook Show Me How Calculator Print Item The following data were extracted from the income statement of Keever Inc.: చేట్కకి Current Year Previous Year Sales $890,600 $932,900 Beginning inventories 41,772 48,482 Cost of goods sold 445,300 518,300 Ending inventories 37,772 41,772 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory 32.6 days X days b. The inventory position of the business has deteriorated The inventory turnover has decreased v, while the number of days' sales in inventory has Increased X Feedback TCheck My Work a.1. Divide the cost of goods sold by the average inventory. Average inventory = (Beginning inventory+ Ending inventory)- 2. a.2. Divide the average inventory by the average daily cost of goods sold.Average…
Preview File Edit View Go Tools Window Help V mgt120h-j17.pdf Page 5 of 10 przy:wwwv=j-zlatykyvvw.vivvvitiete a. 6 b. 7 c. 14 d. 16 C Ơ ● ₁ CC V 7. If average inventory was $80,000, sales were $560,000, and cost of goods sold were $480,000 what would be the inventory turnover? Search ((. Ơ Sat Apr 15 2:53 PM
View Policies Current Attempt in Progress The following data were taken from the financial records of Blossom Company. Net sales Beginning inventory Purchases Ending inventory Inventory turnover 2022 $6,310,000 Days in inventory 970,000 4,994,500 eTextbook and Media 1,040,000 2021 $6,120,000 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 2022 2022 910,000 4,948,000 970,000 times Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2021 days times 2021 days
Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $575,757 Cost of merchandise sold during year 193,428 Accounts receivable, beginning of year 43,481 Accounts receivable, end of year 51,054 Merchandise inventory, beginning of year 32,544 Merchandise inventory, end of year 43,018 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.
Question Content Area Based on the following data for the current year, what is the inventory turnover? Sales on account during year $507,225 Cost of goods sold during year 190,106 Accounts receivable, beginning of year 47,004 Accounts receivable, end of year 51,339 Inventory, beginning of year 36,189 Inventory, end of year 44,233 Do not round interim calculations. Round your final answer to one decimal place. a.1.2 b.28.9 c.4.7 d.2.7
Cost of goods sold Average inventory 2020 2021 2022 $923,550 $980,640 126,290 Inventory Turnover 7.3 2021 6.3 5.3 156,510 2022 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell invento (Round inventory turnover to 2 decimal places, e.g. 18.42 and number of days to 1 decimal place, e.g. 13.6., $1,149,910 $1,329,510 208,410 Number of Days 2023 321,820 days days days 2024 $1,408,530 451,860
8 After clicking the Sales Dollars field in the PivotTable shown below, which of the following will open the Value Field Settings dialog box? Year A 1 2 3 Row Labels 4 January 5 February 6 March 7 April 8 May June 10 July 11 August 12 September 13 October 14 November 15 December 16 Grand Total 17 (All) B Sales Dollars $122,890 $113,055 $132,655 $99,370 $105,270 $43,485 $38,480 $103,170 $159,960 $201,950 $213,940 $232,425 $1,566,650 с