e following data (in millions) were taken from recent annual reports of Apple Inc., a manufacturer of personal computers and related products, and Mattel Inc., a manufacturer of toys, including Barbie®, Hot Wheelse, and Disney Classics: Apple Mattel Cost of merchandise sold $163,756 $2,716 Inventory, end of year 3,956 543 Inventory, beginning of the year 4,855 601 a. Determine the inventory turnover for Apple and Mattel. Round to one decimal place. Apple Mattel b. Would you expect Mattel's inventory turnover to be higher or lower than Apple's?

e following data (in millions) were taken from recent annual reports of Apple Inc., a manufacturer of personal computers and related products, and Mattel Inc., a manufacturer of toys, including Barbie®, Hot Wheelse, and Disney Classics: Apple Mattel Cost of merchandise sold $163,756 $2,716 Inventory, end of year 3,956 543 Inventory, beginning of the year 4,855 601 a. Determine the inventory turnover for Apple and Mattel. Round to one decimal place. Apple Mattel b. Would you expect Mattel's inventory turnover to be higher or lower than Apple's?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter16: Manufacturing Accounting (mfg)

Section: Chapter Questions

Problem 3R: The following data pertain to 2012 activities of Twisp Industries: Use your completed worksheet to...

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Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and sales for the year are as follows: Purchases: Sales: The president of the company, Connie Kilmer, has asked for your advice on which inventory cost flow method should be used for the 32,000-unit physical inventory that was taken on December 31. The company plans to expand its product line in the future and uses the periodic inventory system. Write a brief memo to Ms. Kilmer comparing and contrasting the LIFO and FIFO inventory cost flow methods and their potential impacts on the companys financial statements.
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The following data pertain to 2012 activities of Twisp Industries: Use your completed worksheet to determine the firms cost of goods sold for 2012. Remember to change the year in row 24 and to enter new beginning inventory balances. Save the 2012 file as MFG3. Print the worksheet when done. If sales and other expenses were identical in 2011 and 2012, during which year did Twisp earn more income? Why?
On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the year. On its year-end income statement, Pope reported cost of goods sold of 1,025,000. Calculate Popes December 31 ending inventory.
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