At December 31, 2022, the following information (in thousands) was available for Swifty Inc.: ending inventory $22.200; beginning inventory $21.800; cost of goods sold $180.400, and sales revenue $435,000, Calculate the inventory turnover and days in inventory for Swifty. (Round answers to 1 decimal places, eg. 15.2. Use 365 days for

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
icon
Related questions
Topic Video
Question
Current Attempt in Progress
At December 31,2022, the following information (in thousands) was available for Swifty Inc: ending inventory $22.200; beginning
inventory $21.800; cost of goods sold $180.400, and sales revenue $435,000.
Calculate the inventory turnover and days in inventory for Swity. (Round answers to 1 decimal places, e.g. 15.2. Use 365 days for
calculation.)
times
Inventory turnover
Days in inventory
days
Transcribed Image Text:Current Attempt in Progress At December 31,2022, the following information (in thousands) was available for Swifty Inc: ending inventory $22.200; beginning inventory $21.800; cost of goods sold $180.400, and sales revenue $435,000. Calculate the inventory turnover and days in inventory for Swity. (Round answers to 1 decimal places, e.g. 15.2. Use 365 days for calculation.) times Inventory turnover Days in inventory days
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
SWFT Individual Income Taxes
SWFT Individual Income Taxes
Accounting
ISBN:
9780357391365
Author:
YOUNG
Publisher:
Cengage
Individual Income Taxes
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT