2GFU Corporation has the following financial data for the years 20XX and 20XY:SalesCost of goods soldInventory20XX$5,221,0003,632,000454,00020XY$6,578,0004,862,000572,000a. Compute inventory turnover based on sales for each year. (Round the final answer to 1 decimalplace.)Inventoryturnover ratio20XX20XYXXb. Compute inventory turnover based on cost of goods sold for each year. (Round the final answers to 1decimal place.)20XX20XYInventoryturnover ratioXXc. This part of the question is not part of your Connect assignment.

With formulas:a Inventory Turnover ratio: 20XX11.5 =5,221,000/454,00020XY11.5 =6,578,000/572,000…

Answered: 2GFU Corporation has the following…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A company reports the following: Cost of goods sold $442,380 Average inventory 73,730 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
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
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