Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.(c)(in millions)Beginning inventoryEnding inventoryCost of goods soldSales revenue(a)InventoryturnoverratioYour answer is correct.Inventoryturnoverratio2020Days ininventory$116,000317,500895,000 1,120,0001,595,5001,195,000eTextbook and MedialCalculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.)Gross profit rate202020212020$317,5002020410,500Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.)4.1 times4.1 times2020202289 days$410,500476,5001,297,5001,894,000Calculate the days in inventory for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.)2021%20213.1 times.20213.1Calculate the gross profit rate for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2 %)2021times117 days20222022202220221252.92.9timestimesdaysAttempts: 1 of 10 used

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(c) Calculate the gross profit rate for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2%) Gross profit rate 2020 2021 2022

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.
(c)
(in millions)
Beginning inventory
Ending inventory
Cost of goods sold
Sales revenue
(a)
Inventory
turnover
ratio
Your answer is correct.
Inventory
turnover
ratio
2020
Days in
inventory
$116,000
317,500
895,000 1,120,000
1,595,500
1,195,000
eTextbook and Medial
Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.)
Gross profit rate
2020
2021
2020
$317,500
2020
410,500
Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.)
4.1 times
4.1 times
2020
2022
89 days
$410,500
476,500
1,297,500
1,894,000
Calculate the days in inventory for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.)
2021
%
2021
3.1 times.
2021
3.1
Calculate the gross profit rate for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2 %)
2021
times
117 days
2022
2022
2022
2022
125
2.9
2.9
times
times
days
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