Selected information for 2017 is: Cost of goods sold $6,000,000 2016-ending inventory $2,000,000 2017-ending inventory $1,400,000 Net sales $7,200,000 2016-ending receivables $990,000 2017-ending receivables $930,000 Net income $20,000 Assuming a 360-day year, what was the inventory turnover ratio for 2017? a. 102 b. None of these c. 4.3 d. 7.5 e. 3.5

Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?

Financial statement data for years ending December 31 for Holland Company follow: a. Determine the inventory turnover for 20Y4 and 20Y3. b. Determine the days sales in inventory for 20Y4 and 20Y3. Use 365 days and round to one decimal place. c. Does the change in inventory turnover and the days sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable trend?

On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the year. On its year-end income statement, Pope reported cost of goods sold of 1,025,000. Calculate Popes December 31 ending inventory.

The following information is available for Bridgeport Corp. for three recent fiscal years. 2015 $325.447 1,285,838 965,338 2017 Inventory $554,103 Net sales - 1,965,543 Cost of goods sold 1.572,196 Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016. (Round Inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to O decimal places, eg. 125 and gross profit rate to 1 decimal place, e.g. 5.2%) Inventory Turnover Days in Inventory 2016 $572,288 1.739,520 1.307,512 Gross Profit Rate 2017 times days 2016 times 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 eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b)

Compute the Days-in-Inventory for the Year End Dec-31-2016, given the Following; Cost of Goods Sold for 12-31-2016= 150,000 Cost of Goods Sold for 12-31-2015= 200,000 Ending Inventory 12-31-2016 = 60,000 Ending Inventory 12-31-2015 = 20,000 Sales Revenues 12-31-2016 $750,000 Sales Revenues 12-31-2015 = $900,000 = Inventory Turnover Ratio = COGS / Average Inventory Days-in-Inventory = 365/ Inventory Turnover Ratio None of These Choices 97 Days 48 Days 49 Days 146 Days

The following data were taken from the income statements of Cullumber Company.     2022   2021 Sales revenue   $6,420,000   $6,271,000 Beginning inventory   942,400   840,500 Purchases   4,836,000   4,691,000 Ending inventory   1,174,000   942,400     Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.)     2022   2021 Inventory turnover   Enter inventory turnover in times rounded to 1 decimal place  times   Enter inventory turnover in times rounded to 1 decimal place  times       Compute days in inventory for each year. (Round answers to 0 decimal places, e.g. 124. Use 365 days for calculation.)     2022   2021 Days in inventory   Enter days in inventory rounded to 0 decimal places  days   Enter days in inventory rounded to 0 decimal places

Calculate activity measures The following information was available for the year ended December 31, 2016:Net sales $365,000Cost of goods sold 292,000Average accounts receivable for the year 14,600Accounts receivable at year-end 16,000Average inventory for the year 73,000Inventory at year-end 78,400Required:Calculate the inventory turnover for 2016.Calculate the number of days’ sales in inventory for 2016, using year-end inventories.Calculate the accounts receivable turnover for 2016.Calculate the number of days’ sales in accounts receivable for 2016, using year-end accounts receivable.

The following information is available for cullumber company for three recent fiscal years.                                        2022               2021              2020 Inventory                        532,000          580,000          330,000 Net Sales                        1,920,000         1,750,000       1,315,000 Cost of goods sold         1,334,400          1,137,000      943,000 Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2022   2021 Inventory Turnover   enter an inventory turnover times   enter an inventory turnover times Days in Inventory   enter a number of days days   enter a number of days days Gross Profit Rate   enter percentages %   enter percentages %