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Exercise 13-9 (Algo) Part 3 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover Current Yr: times 1 Yr Ago: times Roguirod 3B

Exercise 13-9 (Algo) Part 3 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover Current Yr: times 1 Yr Ago: times Roguirod 3B

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter2: Analyzing Transactions
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Problem 24E: The following data (in millions) were taken from the financial statements of Costco Wholesale...
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[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets $ 25,199 89,800 113,500 8,115 203,699 $ 440,313 29,455 $ 62,900 83,000 7,732 196,493 $ 379,580 $ 326,100 $ 31,315 50, 200 56,000 3,479 185,106 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings $ 106,349 80, 295 162,500 91,169 $ 62,225 $ 84,684 162,500 70,171 $ 379,580 $ 326,100 41,754 69,906 162, 500 51,940 Total liabilities and equity $ 440,313 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 1 Yr Ago $ 451,700 For Year Ended December 31 Current Yr Sales $ 572,407 Cost of goods sold Other operating expenses Interest expense $ 349,168 177,446 9,731 7,441 $ 293,605 114,280 10,389 6,776 Income tax expense Total costs and expenses 543,786 425,050 $ 26,650 Net income $ 28,621 Earnings per share 1.76 1.64
Transcribed Image Text:[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets $ 25,199 89,800 113,500 8,115 203,699 $ 440,313 29,455 $ 62,900 83,000 7,732 196,493 $ 379,580 $ 326,100 $ 31,315 50, 200 56,000 3,479 185,106 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings $ 106,349 80, 295 162,500 91,169 $ 62,225 $ 84,684 162,500 70,171 $ 379,580 $ 326,100 41,754 69,906 162, 500 51,940 Total liabilities and equity $ 440,313 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 1 Yr Ago $ 451,700 For Year Ended December 31 Current Yr Sales $ 572,407 Cost of goods sold Other operating expenses Interest expense $ 349,168 177,446 9,731 7,441 $ 293,605 114,280 10,389 6,776 Income tax expense Total costs and expenses 543,786 425,050 $ 26,650 Net income $ 28,621 Earnings per share 1.76 1.64
Exercise 13-9 (Algo) Part 3 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover Current Yr: times 1 Yr Ago: times %D < Required 3A Required 3B>
Transcribed Image Text:Exercise 13-9 (Algo) Part 3 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover Current Yr: times 1 Yr Ago: times %D < Required 3A Required 3B>
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