Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under bran names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions 2016 $5,300 4,200 2015 Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory $5,360 4,050 440 510 610 510 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2016 2015 Inventory Tumover Ratio Days to Selt times per year times per year days days
Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under bran names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions 2016 $5,300 4,200 2015 Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory $5,360 4,050 440 510 610 510 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2016 2015 Inventory Tumover Ratio Days to Selt times per year times per year days days
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter15: Ratio Analysis (ratioa)
Section: Chapter Questions
Problem 2R: The comparative financial statements of Global Technology are as follows: Open the file RATIOA from...
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