ng: Cost of goods sold $442,380 Average inventory 73,730 Determine (a) the inventory turnover

Inventory Analysis The following data were extracted from the income statement of Shriver Inc.:   Current Year Prior Year Sales $788,400   $827,800   Beginning inventories 50,784   39,314   Cost of merchandise sold 394,200   459,900   Ending inventories 45,984   50,784   a.  Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year.   Current Year Prior Year 1.  Inventory turnover fill in the blank 1   fill in the blank 2   2.  Number of days' sales in inventory fill in the blank 3 days fill in the blank 4 days b.  The inventory turnover has    , while the number of days' sales in inventory has    . The sales volume has    faster than the inventory, resulting in a    inventory position.

Inventory Analysis A company reports the following: Cost of goods sold $249,660 Average inventory 55,480 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a.  Inventory turnover   b.  Number of days' sales in inventory  days

The following data were taken from a company’s latest financial statements: Annual sales $2,433,332 Cost of goods sold 2,027,778 Inventories 500,000 Accounts receivable 600,000 Accounts payable 300,000 What is the company’s inventory conversion period? Which answers? 90 days 75 days 111 days 54 days

Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold Merchandise inventory Beginning of year End of year $1,600,000 1,120,000 Merchandise inventory turnover 151,000 199,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) times

Inventory Analysis The following data were extracted from the income statement of Shriver Inc.: Prior Year Sales Beginning inventories Cost of merchandise sold Ending inventories Current Year $919,800 $959,200 59,374 50,012 459,900 53,774 532,900 59,374 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Prior Year 1. Inventory turnover 2. Number of days' sales in inventory 8.13 44.9 ✓ days 9.74 X 37.4 X days b. The inventory turnover has decreased ✔, while the number of days' sales in inventory has increased ✓. The sales volume has declined faster than the inventory, resulting in a deteriorating inventory position.

Inventory turnover and number of days’ sales in inventory Financial statement data for years ending December 31 for Tango Company follow:   20Y7 20Y6 Cost of goods sold $3,864,000 $4,001,500 Inventories:       Beginning of year 770,000 740,000   End of year 840,000 770,000 Required a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place.   20Y7 20Y6 Inventory turnover     b. Determine the number of days’ sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place.   20Y7 20Y6 Number of days’ sales in inventory  3 days 4 days

Suppose that the following information is available for Nike Inc. for the current year. Beginning inventory Ending inventory Cost of goods sold Net sales Inventory turnover Days in inventory $10,000 Calculate the inventory turnover, days in inventory, and gross profit rate for Nike Inc. for the current year. (Round gross profit rate to 2 decimal places, e.g. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Gross profit rate 12,500 80,100 140,000 times days % .

Based on the following information compute (a) inventory turnover, (b) average daily cost of merchandise sold, and (c) days' sales in inventory for the current year. Use a 365-day year.   Item Prior Year Current Year Cost of merchandise sold $172,900 $215,000 Inventory    18,000    12,000   If required, round your answers to two decimal places. (a)  Inventory turnover   times (b)  Average daily cost of merchandise sold $   (c)  Days' sales in inventory   days (d)  If an inventory turnover of 12 is average for the industry, how is this company doing?

Inventory Analysis A company reports the following: Cost of goods sold $464,280 Average inventory 77,380 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a.  Inventory turnover fill in the blank 1 b.  Number of days' sales in inventory fill in the blank 2 days