(in millions) 2020 2021 2022 Beginning inventory $1,658 $1,970 $2,168 Ending inventory 1,970 2,168 2,250 Cost of goods sold 15,513 16,688 17,285 Sales revenue 33,946 35,466 37,181 (a) Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal place, eg, 52.7.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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(in millions)
2020
2021
2022
Beginning inventory
$1,658
$1,970
$2.168
Ending inventory
1,970
2.168
2,250
Cost of goods sold
15,513
16,688 17,285
Sales revenue
33,946
35,466 37,181
(a)
Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal place, e.g. 52.7.)
Transcribed Image Text:(in millions) 2020 2021 2022 Beginning inventory $1,658 $1,970 $2.168 Ending inventory 1,970 2.168 2,250 Cost of goods sold 15,513 16,688 17,285 Sales revenue 33,946 35,466 37,181 (a) Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal place, e.g. 52.7.)
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