The following information is available for Canadian Tire Corporation (in $ millions): 2018 2017 2016 Inventory $ 1,997.5 $ 1,769.8 $ 1,710.7 Cost of goods sold 8,863.8 8,398.9 7,898.4 (a) Calculate the inventory turnover and days in inventory ratios for 2018 and 2017. (Round inventory turnover to 1 decimal place, e.g. 15.2. Round days in inventory to nearest day, e.g. 15. Use 365 days for calculation.) 2018 2017 Inventory Turnover times times Days in Inventory days days
The following information is available for Canadian Tire Corporation (in $ millions): 2018 2017 2016 Inventory $ 1,997.5 $ 1,769.8 $ 1,710.7 Cost of goods sold 8,863.8 8,398.9 7,898.4 (a) Calculate the inventory turnover and days in inventory ratios for 2018 and 2017. (Round inventory turnover to 1 decimal place, e.g. 15.2. Round days in inventory to nearest day, e.g. 15. Use 365 days for calculation.) 2018 2017 Inventory Turnover times times Days in Inventory days days
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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