Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.(in millions)202020212022Beginning inventory$116,000$317,500$410,500Ending inventory317,500410,500476,500Cost of goods sold895,000 1120,000 1.297.500Sales revenue1.195,000 1595,500 1.894.000(a)Calculate the inventory turnover for 2020, 2021, and 2022. Round answers to 1 decimal places, eg. 15.2InventoryturnovereTextbook and MediaSave for Lid20202021times2022Attempts: unlimitedSubmit Ans

The objective of the question is to calculate the inventory turnover for the years 2020, 2021, and…

Answered: Suppose this information is available…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020 2021 2022 Beginning inventory $2,100 $2,400 $2,500 Ending inventory 2,400 2,500 2,700 Cost of goods sold 19,350 20,825 20,280 Sales revenue 41,000 42,500 42,430 Calculate the gross profit rate for 2020, 2021, and 2022. (Round gross profit rate to 1 decimal place, e.g. 5.1%.) 2020 2021 2022 Gross profit rate enter percentagesenter percentages % enter percentagesenter percentages % enter percentagesenter percentages %
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. \table[[(in millions),2020,2021,2022],[Beginning inventory,$1,900,$2,300,$2,500 Calculate the gross profit rate for 2020,2021 , and 2022. (Round gross profit rate to 1 decimal place, e.g. 5.1%.) \table[[,2020,2021,2022],[Gross profit rate,%,%,20]] Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. \table[[(in millions),2020,2021,2022],[Beginning inventory,$1,900,$2,300,$2,500
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020 2021 2022 Beginning inventory $1,900 $2,200 $2,400 Ending inventory 2,200 2,400 2,500 Cost of goods sold 18,040 20,010 19,600 Sales revenue 41,000 42,300 42,240 (a) Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory times times times turnover
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020 2021 2022 Beginning inventory $1,900 $2,200 $2,400 Ending inventory 2,200 2,400 2,500 Cost of goods sold 18,040 20,010 19,600 Sales revenue 41,000 42,300 42,240
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) 2020 Inventory turnover $1,700 2,200 15,015 38,600 2021 $2,200 $2,500 2,500 2022 45,100 2020 17,860 17,595 2,600 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 45,000 times 2021 times 2022 times
Suppose this information is available for PepsiCo, Inc. for 2023, 2024, and 2025. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) 2023 $1,926 2,290 2024 2025 $2,290 $2,522 2,522 2,618 18,038 20,351 20,099 39,474 43,251 43,232 Calculate the inventory turnover for 2023, 2024, and 2025. (Round inventory turnover to 1 de 2023 2024
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020 2021 2022 Beginning inventory $2,100 $2,400 $2,500 Ending inventory 2,400 2,500 2,700 Cost of goods sold 19,350 20,825 20,280 Sales revenue 41,000 42,500 42,430 (a) Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover enter an inventory turnoverenter an inventory turnover timesenter an inventory turnoverenter an inventory turnover timesenter an inventory turnoverenter an inventory turnover times
Suppose this information is available for PepsiCo, Inc. for 2023, 2024, and 2025. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) 2023 2024 $1,800 $2,300 2,300 2,600 15,170 17,885 39,300 43,300 Inventory turnover 2025 $2,600 2,700 2023 17,490 Calculate the inventory turnover for 2023, 2024, and 2025. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 43,180 times 2024 times. 2025
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (c) (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) Inventory turnover ratio Your answer is correct. Inventory turnover ratio 2020 Days in inventory $116,000 317,500 895,000 1,120,000 1,595,500 1,195,000 eTextbook and Medial Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) Gross profit rate 2020 2021 2020 $317,500 2020 410,500 Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) 4.1 times 4.1 times 2020 2022 89 days $410,500 476,500 1,297,500 1,894,000 Calculate the days in inventory for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) 2021 % 2021 3.1 times. 2021 3.1 Calculate the gross profit rate for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2 %) 2021 times 117 days 2022 2022 2022 2022 125 2.9 2.9 times times…
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020 2021 2022 Beginning inventory $2,100 $2,400 $2,500 Ending inventory 2,400 2,500 2,700 Cost of goods sold 19,350 20,825 20,280 Sales revenue 41,000 42,500 42,430 Calculate the days in inventory for 2020, 2021, and 2022. (Round days in inventory to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Days in inventory enter a number of daysenter a number of days days enter a number of daysenter a number of days days enter a number of daysenter a number of days days
Suppose this information is available for PepsiCo, Inc. for 2023, 2024, and 2025. (in millions) 2023 2024 2025 Beginning inventory $1,926 $2,290 $2,522 Ending inventory 2,290 2,522 2,618 Cost of goods sold 18,038 20,351 20,099 Sales revenue 39,474 43,251 43,232 (a) Your answer is correct. Calculate the inventory turnover for 2023, 2024, and 2025. (Round inventory turnover to 1 decimal place, e.g. 5.1.) (b) Inventory turnover Your answer is incorrect. 2023 8.6 times 2024 8.5 times Calculate the days in inventory for 2023, 2024, and 2025. (Round days in inventory to 1 decimal place, e.g. 5.1.) Days in inventory 2023 days 2024 days 2025 7.8 Attempts: 1 of 5 used 2025 days
How to compute this problem? Problem:The data shown below were obtained from the financial records of the BST Corporation for the year ended December 31, 2020. Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets…

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