Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $181,000, beginning inventory $119,000, cost of goods sold $343,500, and sales revenue $867,000. (a) Your answer is incorrect. Calculate the inventory turnover for Oakley, Inc. (Round answer to 2 decimal places, e.g. 1.25.) Inventory turnover times D
Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $181,000, beginning inventory $119,000, cost of goods sold $343,500, and sales revenue $867,000. (a) Your answer is incorrect. Calculate the inventory turnover for Oakley, Inc. (Round answer to 2 decimal places, e.g. 1.25.) Inventory turnover times D
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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![Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley,
Inc.: ending inventory $181,000, beginning inventory $119,000, cost of goods sold $343,500, and sales revenue $867,000.
(a)
Your answer is incorrect.
Calculate the inventory turnover for Oakley, Inc. (Round answer to 2 decimal places, e.g. 1.25.)
Inventory turnover
times](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa3b42998-d5ec-46d7-99c0-a0ebc444a5a3%2F143e0785-db7d-4ea3-a2c3-81b5b54e6089%2Falhonem_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley,
Inc.: ending inventory $181,000, beginning inventory $119,000, cost of goods sold $343,500, and sales revenue $867,000.
(a)
Your answer is incorrect.
Calculate the inventory turnover for Oakley, Inc. (Round answer to 2 decimal places, e.g. 1.25.)
Inventory turnover
times
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