None Inventory analysisA company reports the following:Cost of goods soldAverage inventory$696,00058,000Determine (a) the inventory turnover and (b) the days' sales in inventory. Round interim calculations to the nearest dollar and final answers toone decimal place. Assume 365 days a year.a. Inventory turnoverb. Days' sales in inventorydays

Given information, Cost of goods sold = $696,000Average inventory = $58,000Number of days in a year…

Answered: Inventory analysis A company reports…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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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?
Inventory Analysis Singleton Inc. reported the following information for the current year: Required: Compute Singletons (a) gross profit ratio, (b) inventory turnover ratio, and (c) average days to sell inventory. (Note: Round all answers to two decimal places.)
Inventory analysis A company reports the following: Determine (a) the inventory turnover and (b) the number of days sales in inventory. Round to one decimal place.
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