Business
AccountingFinancial AccountingTarget Corp. sells merchandise primarily through its retail stores. On the other hand, Amazon .com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Target and Amazon.com (in millons) are as follows: a. Determine the inventory turnover for Target and Amazon.com. Round to two decimal places. b. Determine the days’ sales in inventory for Target and Amazon.com. Use 365 days and round to one decimal place. c. Interpret your results.
close solutoin list

Target Corp. sells merchandise primarily through its retail stores. On the other hand, Amazon .com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Target and Amazon.com (in millons) are as follows: a. Determine the inventory turnover for Target and Amazon.com. Round to two decimal places. b. Determine the days’ sales in inventory for Target and Amazon.com. Use 365 days and round to one decimal place. c. Interpret your results.

BuyFind

Financial Accounting

15th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337272124
BuyFind

Financial Accounting

15th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337272124

Solutions

Chapter
Section
Problem 1DQ
Problem 2DQ
Problem 3DQ
Problem 4DQ
Problem 5DQ
Problem 6DQ
Problem 7DQ
Problem 8DQ
Problem 9DQ
Problem 10DQ
Problem 1PEA
Problem 1PEB
Problem 2PEA
Problem 2PEB
Problem 3PEA
Problem 3PEB
Problem 4PEA
Problem 4PEB
Problem 5PEA
Problem 5PEB
Problem 6PEA
Problem 6PEB
Problem 7PEA
Problem 7PEB
Problem 8PEA
Problem 8PEB
Problem 1E
Problem 2E
Problem 3E
Problem 4E
Problem 5E
Problem 6E
Problem 7E
Problem 8E
Problem 9E
Problem 10E
Problem 11E
Problem 12E
Problem 13E
Problem 14E
Problem 15E
Problem 16E
Problem 17E
Problem 18E
Problem 19E
Problem 20E
Problem 21E
Problem 22E
Problem 23E
Problem 24E
Problem 25E
Problem 26E
Problem 27E
Problem 28E
Problem 1PA
Problem 2PA
Problem 3PA
Problem 4PA
Problem 5PA
Problem 6PA
Problem 7PA
Problem 1PB
Problem 2PB
Problem 3PB
Problem 4PB
Problem 5PB
Problem 6PB
Problem 7PB
Problem 1CP
Problem 2CP
Problem 4CP
Problem 5CP
Problem 6CP
Problem 7CP
Chapter 7, Problem 6CP
Textbook Problem

Target Corp. sells merchandise primarily through its retail stores. On the other hand, Amazon .com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Target and Amazon.com (in millons) are as follows:

Chapter 7, Problem 6CP, Target Corp. sells merchandise primarily through its retail stores. On the other hand, Amazon .com

  1. a. Determine the inventory turnover for Target and Amazon.com. Round to two decimal places.
  2. b. Determine the days’ sales in inventory for Target and Amazon.com. Use 365 days and round to one decimal place.
  3. c. Interpret your results.

Expert Solution

Want to see the full answer?

Check out a sample textbook solution.See solution
Chapter 7,
Problem 5CP
Chapter 7,
Problem 7CP

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Solution

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Chapter 7 Solutions

Financial Accounting
Show all chapter solutions
Ch. 7 - Before inventory purchases are recorded, the...Ch. 7 - Why is it important to take a physical inventory...Ch. 7 - Do the terms FIFO, LIFO, and weighted average...Ch. 7 - If merchandise inventory is being valued at cost...Ch. 7 - Which of the three methods of inventory...Ch. 7 - If inventory is being valued at cost and the price...Ch. 7 - Using the following data, how should the...Ch. 7 - The inventory at the end of the year was...Ch. 7 - Hutch Co. sold merchandise to Bibbins Company on...Ch. 7 - A manufacturer shipped merchandise to a retailer...
Ch. 7 - The following three identical units of Item A are...Ch. 7 - The following three identical units of Item Beta...Ch. 7 - Beginning inventory, purchases, and sales for Item...Ch. 7 - Beginning inventory, purchases, and sales for Item...Ch. 7 - Beginning inventory, purchases, and sales for Item...Ch. 7 - Beginning inventory, purchases, and sales for Item...Ch. 7 - Beginning inventory, purchases, and sales for...Ch. 7 - Beginning inventory, purchases, and sales for...Ch. 7 - The units of an item available for sale during the...Ch. 7 - The units of an item available for sale during the...Ch. 7 - On the basis of the following data, determine the...Ch. 7 - On the basis of the following data, determine the...Ch. 7 - During the taking of its physical inventory on...Ch. 7 - During the taking of its physical inventory on...Ch. 7 - Financial statement data for years ending December...Ch. 7 - Financial statement data for years ending December...Ch. 7 - Triple Creek Hardware Store currently uses a...Ch. 7 - Hardcase Luggage Shop is a small retail...Ch. 7 - Beginning inventory, purchases, and sales data for...Ch. 7 - Assume that the business in Exercise 7-3 maintains...Ch. 7 - Beginning inventory, purchases, and sales data for...Ch. 7 - Assume that the business in Exercise 7-5 maintains...Ch. 7 - The following units of an item were available for...Ch. 7 - The following units of a particular item were...Ch. 7 - The following units of a particular item were...Ch. 7 - Assume that the business in Exercise 7-9 maintains...Ch. 7 - Assume that the business in Exercise 7-9 maintains...Ch. 7 - The units of an item available for sale during the...Ch. 7 - The units of an item available for sale during the...Ch. 7 - Assume that a firm separately determined inventory...Ch. 7 - On the basis of the following data, determine the...Ch. 7 - Based on the data in Exercise 7-15 and assuming...Ch. 7 - Missouri River Supply Co. sells canoes, kayaks,...Ch. 7 - Fonda Motorcycle Shop sells motorcycles, ATVs, and...Ch. 7 - During 20Y5, the accountant discovered that the...Ch. 7 - The following data (in millions) were taken from...Ch. 7 - Kroger, Sprouts Farmers Market, Inc., and Whole...Ch. 7 - A business using the retail method of inventory...Ch. 7 - A business using the retail method of inventory...Ch. 7 - A business using the retail method of inventory...Ch. 7 - On the basis of the following data, estimate the...Ch. 7 - The merchandise inventory was destroyed by fire on...Ch. 7 - Based on the following data, estimate the cost of...Ch. 7 - Based on the following data, estimate the cost of...Ch. 7 - The beginning inventory at Midnight Supplies and...Ch. 7 - The beginning inventory at Midnight Supplies and...Ch. 7 - The beginning inventory for Midnight Supplies and...Ch. 7 - The beginning inventory for Midnight Supplies and...Ch. 7 - Dymac Appliances uses the periodic inventory...Ch. 7 - Data on the physical inventory of Ashwood Products...Ch. 7 - Selected data on merchandise inventory, purchases,...Ch. 7 - The beginning inventory of merchandise at Dunne...Ch. 7 - The beginning inventory for Dunne Co. and data on...Ch. 7 - The beginning inventory for Dunne Co. and data on...Ch. 7 - The beginning inventory for Dunne Co. and data on...Ch. 7 - Pappas Appliances uses the periodic inventory...Ch. 7 - Data on the physical inventory of Katus Products...Ch. 7 - Selected data on merchandise inventory, purchases,...Ch. 7 - Sizemo Elektroniks sells semiconductors that are...Ch. 7 - Anstead Co. is experiencing a decrease in sales...Ch. 7 - Golden Eagle Company began operations on April 1...Ch. 7 - The following is an excerpt from a conversation...Ch. 7 - Target Corp. sells merchandise primarily through...Ch. 7 - The general merchandise retail industry has a...

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions
Entry for cash sales; cash over The actual cash received from cash sales was 315,280, and the amount indicated ...

Financial And Managerial Accounting

Managerial accounting in the management process For each of the following managers, describe how managerial acc...

Accounting

Corrected trial balance The Lexington Group has the following unadjusted trial balance as of May 31, 2018: The ...

Financial & Managerial Accounting

Which of the two methods of estimating uncollectibles provides for the most accurate estimate of the current ne...

Corporate Financial Accounting

Where are error and exception routines shown on systems flowcharts?

Accounting Information Systems

(Corporations) How did the institution of the firm get a boost from the advent of the Industrial Revolution? Wh...

ECON: MICRO4 (New, Engaging Titles from 4LTR Press)

Refer to Table 1.6. a. What is the average cost for the tablets? b. Compare the average cost of tablets with a ...

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Creating a Bar Chart and Writing a Title. YOUR TASK. Create a bar chart comparing the current number of Interne...

Essentials of Business Communication (MindTap Course List)

Indicate how important each characteristic is to you. Answer according to your feelings about the most recent j...

Management, Loose-Leaf Version

The Federal Reserves target rate for the federal funds rate a. is an extra policy tool for the central bank, in...

Brief Principles of Macroeconomics (MindTap Course List)

How does short-term financing differ from long-term financing? Give two business uses for each type of financin...

Foundations of Business (MindTap Course List)

AFTER-TAX SALVAGE VALUE Karsted Air Services is now in the final year of a project. The equipment originally co...

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

Suppose Americans decide to save more of their in-comes. If banks lend this extra saving to businesses, which u...

Principles of Microeconomics (MindTap Course List)

Explain how absolute advantage and comparative advantage differ.

Principles of Economics (MindTap Course List)

(Market Equilibrium) Determine whether each of the following statements is true, false, or uncertain. Then brie...

ECON MICRO

Define net exports and net capital outflow. Explain how and why they are related.

Principles of Macroeconomics (MindTap Course List)

Why is some trade credit called free while other credit is called costly? If a firm buys on terms of 2/10, net ...

Fundamentals of Financial Management (MindTap Course List)

CHALLENGE PROBLEM In this chapter, you learned about three important financial statements: the income statement...

College Accounting, Chapters 1-27

Adam Smith's invisible hand" refers to a. the subtle and often hidden methods that businesses use to profit at ...

Essentials of Economics (MindTap Course List)

(Market Equilibrium Determine) whether each of the following statements is true, false, or uncertain. Then brie...

ECON MACRO

Contrast the focus of marketing activities during the five eras of marketing history.

Contemporary Marketing

The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Ca...

Financial Accounting

What is the role of the audit committee of the board of directors?

Accounting Information Systems

Ratio of sales to assets The Home Depot reported the following data (in millions) in its recent financial state...

Financial & Managerial Accounting

What is the difference between a trial balance and an adjusted trial balance? Why are both useful?

Intermediate Accounting: Reporting And Analysis

Use the following information for Multiple-Choice Questions 6-7 through 6-9: The mixing department incurred 46,...

Managerial Accounting: The Cornerstone of Business Decision-Making

Determine the following amounts: a. The amount of the liabilities of a business that has 60,800 in assets and i...

College Accounting (Book Only): A Career Approach

Explain the North American Industry Classification System

MKTG 12:STUDENT ED.-TEXT

You are a U.S. importer who buys goods from many different countries. How many U.S. dollars do you need to sett...

Economics:

Explain the meaning and importance of the shipping terms FOB destination and FOB shipping point. Who has title ...

College Accounting (Book Only): A Career Approach

Entries for notes payable A business issued a 45-day, 6% note for 210,000 to a creditor on account. Journalize ...

Accounting (Text Only)

Consider two economies: one in which there is no redistribution of income by government and one in which the go...

Exploring Economics

INFLATION Due to a recession, expected inflation this year is only 3%. However, the inflation rate in Year 2 an...

Fundamentals of Financial Management (MindTap Course List)

If a companys board of directors wants management to maximize shareholder wealth, should the CEOs compensation ...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

A Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 subscribers. Fift...

Statistics for Business & Economics, Revised (MindTap Course List)

What are the distinctive features of ToyJoys income statement? Its statement of retained earnings? Its balance ...

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

What is a relationship?

Pkg Acc Infor Systems MS VISIO CD

List and briefly explain the three principles that describe how the economy as a whole works.

Principles of Macroeconomics (MindTap Course List)

The form on page 6-47 shows the amounts that appear in the Earnings to Date column of the employees earnings re...

PAYROLL ACCT.,2019 ED.(LL)-TEXT

Qualcomm Incorporated (QCOM) is a leading developer and manufacturer of digital wireless telecommunications pro...

Survey of Accounting (Accounting I)

Ratio of liabilities to stockholders' equity and number of times interest earned The following data were taken ...

Corporate Financial Accounting

Of two similar houses on a street, one faces the ocean and the other does not. How might we determine the price...

Microeconomics

The costs of producing product A, product B, or products A and B bundled together are 50, 90, and 140, respecti...

Practical Management Science

Why is the dual-rate charging method better than the single-rate method? In what circumstances would it not mat...

Cornerstones of Cost Management (Cornerstones Series)

What is the difference between marginal revenue product (MRP) and value marginal product (VMP)?

Economics (MindTap Course List)

Why is it important to include a policy that outlines the origin and scope of purchasing authority? What might ...

Purchasing and Supply Chain Management

Discuss this statement: Because each nations balance of payments equals zero, it follows that there is actually...

Economics For Today

Select the correct word in parentheses. Despite the dangers, employees change their computer passwords (infrequ...

Bcom

In the first quarter of the year, Real GDP was 400 billion; in the second quarter, it was 398 billion; in the t...

Macroeconomics

Dickinsen Company gathered the following data for December: a. Compute the revenue price variance. b. Compute t...

Managerial Accounting

Research and Analysis Using the Annual Report Obtain Whole Foods' 2016 annual report (filed November 18, 2016) ...

Cornerstones of Financial Accounting

Would the U.S. government gain any advantage from using tariffs or quotas to restrict imports?

MACROECONOMICS FOR TODAY

Key Concept: Antitrust Laws Which of the following is concerned primarily with price discrimination? a. Sherman...

Micro Economics For Today

The future of our industrial strength cannot be left to chance. Somebody has to develop notions about which ind...

Macroeconomics: Private and Public Choice (MindTap Course List)

The political process sometimes leads to economic inefficiency because we elect the wrong people to political o...

Microeconomics: Private and Public Choice (MindTap Course List)

Will firms in a price-taker market be able to earn profits in the long run? Why or why not? What determines pro...

Economics: Private and Public Choice (MindTap Course List)

The deadweight loss from monopoly arises because a. the monopoly firm makes higher profits than a competitive f...

Principles of Microeconomics

To tap into the experience of battle-tested soldiers, the U.S. Army began encouraging personnel from all ranks ...

Understanding Management (MindTap Course List)

bartleby
  • Contact Research (Essays)
  • High School Textbooks
  • Literature Guides
  • Essay Help
  • Mobile App
    • © 2021 bartleby. All Rights Reserved.