In its 2019 annual report, Kingbird, Inc. reported inventory of $ 626 million on January 31, 2020, and $ 540 million on January 31, 2019, cost of goods sold of $ 5,746 million for the year, and net sales of $ 7,184 million for the year. Compute Kingbird's inventory turnover for the fiscal year 2019. (Round answer to 2 decimal places, e.g. 7.62.) Inventory turnover times Compute Kingbird's average days to sell inventory for the fiscal year 2019. (Round answer to 2 decimal place, e.g. 7.65. Use 365 days for calculation.) Average days to sell inventory days
In its 2019 annual report, Kingbird, Inc. reported inventory of $ 626 million on January 31, 2020, and $ 540 million on January 31, 2019, cost of goods sold of $ 5,746 million for the year, and net sales of $ 7,184 million for the year. Compute Kingbird's inventory turnover for the fiscal year 2019. (Round answer to 2 decimal places, e.g. 7.62.) Inventory turnover times Compute Kingbird's average days to sell inventory for the fiscal year 2019. (Round answer to 2 decimal place, e.g. 7.65. Use 365 days for calculation.) Average days to sell inventory days
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEA: Financial statement data for years ending December 31 for Holland Company follow: a. Determine the...
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