A manufacturing company reports the following information. Current Year $ 180,000 2,420,600 Raw materials inventory, ending Raw materials used 1 Year Ago $ 192,400 2,938,500 Required: 1. Compute raw materials inventory turnover for the most recent two years. 2. Is the current year change in raw materials inventory turnover ratio favorable or unfavorable? 3. Compute days' sales in raw materials inventory for the current year. Complete this question by entering your answers in the tabs below. 2 Years Ago $ 199,400 2,955,000 < Required 2 Required 1 Required 2 Required 3 Compute days' sales in raw materials inventory for the current year. (Round your answer to 1 decimal place.) Days' sales in raw materials inventory for current year Required 3 >
A manufacturing company reports the following information. Current Year $ 180,000 2,420,600 Raw materials inventory, ending Raw materials used 1 Year Ago $ 192,400 2,938,500 Required: 1. Compute raw materials inventory turnover for the most recent two years. 2. Is the current year change in raw materials inventory turnover ratio favorable or unfavorable? 3. Compute days' sales in raw materials inventory for the current year. Complete this question by entering your answers in the tabs below. 2 Years Ago $ 199,400 2,955,000 < Required 2 Required 1 Required 2 Required 3 Compute days' sales in raw materials inventory for the current year. (Round your answer to 1 decimal place.) Days' sales in raw materials inventory for current year Required 3 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A manufacturing company reports the following information.
Current Year
$ 180,000
2,420,600
Raw materials inventory, ending
Raw materials used
1 Year Ago
$ 192,400
2,938,500
Required:
1. Compute raw materials inventory turnover for the most recent two years.
2. Is the current year change in raw materials inventory turnover ratio favorable or unfavorable?
3. Compute days' sales in raw materials inventory for the current year.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
2 Years Ago
$ 199,400
2,955,000
< Required 2
Required 3
Compute days' sales in raw materials inventory for the current year. (Round your answer to 1 decimal place.)
Days' sales in raw materials inventory for current year
Required 3 >
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