Comparative figures for Apple and Google follow.AppleOne YearPrior$ 3,956163,756$ millionsInventoryCost of salesCurrent Year$ 4,106161,782AppleGoogleInventory TurnoverRequired:1. Compute inventory turnover for each company for the most recent two years shown.2. Compute days' sales in inventory for each company for the three years shown.3. Did the current year inventory turnover underperform or outperform the industry's average turnover of 15 in the case of (a) Appleand (b) Google?Complete this question by entering your answers in the tabs below.Required 1 Required 2Required 3Compute inventory turnover for each company for the most recent two years shown.Note: Do not round intermediate calculations. Round your answers to 1 decimal place.Current YearTwo YearsPrior$ 4,855141,048timestimesCurrentYear$ 99971,896One Year PriortimestimesRequired 1GoogleOne YearPrior$ 1,10759,549Required 2 >Two YearsPrior$ 74945,583Check

Comparative figures for Apple and Google follow. Apple One Year Prior $ millions Inventory Cost of sales Current Year $ 4,106 161,782 Apple Google $ 3,956 163,756 Complete this question by entering your answers in the tabs below. Two Years Prior $ 4,855 141,048 Required: 1. Compute inventory turnover for each company for the most recent two years shown. 2. Compute days' sales in inventory for each company for the three years shown. 3. Did the current year inventory turnover underperform or outperform the industry's average turnover of 15 in the case of (a) Apple and (b) Google? Inventory Turnover Current Year Required 1 Required 2 Required 3 Compute inventory turnover for each company for the most recent two years shown. Note: Do not round intermediate calculations. Round your answers to 1 decimal place. times times Current Year $ 999 71,896 Google One Year Prior $ 1,107 59,549 One Year Prior times times Ad Two Years Prior $ 749 45,583

Comparative figures for Apple and Google follow. Apple One Year Prior $ millions Inventory Cost of sales Current Year $ 4,106 161,782 Apple Google $ 3,956 163,756 Complete this question by entering your answers in the tabs below. Two Years Prior $ 4,855 141,048 Required: 1. Compute inventory turnover for each company for the most recent two years shown. 2. Compute days' sales in inventory for each company for the three years shown. 3. Did the current year inventory turnover underperform or outperform the industry's average turnover of 15 in the case of (a) Apple and (b) Google? Inventory Turnover Current Year Required 1 Required 2 Required 3 Compute inventory turnover for each company for the most recent two years shown. Note: Do not round intermediate calculations. Round your answers to 1 decimal place. times times Current Year $ 999 71,896 Google One Year Prior $ 1,107 59,549 One Year Prior times times Ad Two Years Prior $ 749 45,583

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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Inventory turnover and number of days’ sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 20Y6 Cost of goods sold $3,791,255 $4,079,970 Inventories: Beginning of year 773,800 737,300 End of year 839,500 773,800 Required a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. 20Y7 20Y6 Inventory turnover b. Determine the number of days’ sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. 20Y7 20Y6 Number of days’ sales in inventory days days c. Are the changes in inventory turnover and the number of days’ sales in inventory from 20Y6 to 20Y7 favorable or unfavorable?
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Solve for the missing information designated by "?" in the following table. (Use 365 days in a year. Round the inventory turnover ratio to one decimal place before computing days to sell. Round days to sell to one decimal place.) Case Beginning Inventory Purchases Cost of Goods Sold Ending Inventory Inventory Turnover Ratio Days to Sell a. $ 130 $ 730 $ 690 b $ 230 $ 1,320 C $ 1,120 $ 135 6.6 32.6
Inventory turnover and 'number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 20Υ6 Cost of goods sold $3,739,790 $3,852,940 Inventories: Beginning of year 759,200 722,700 End of year 832,200 759,200 Required a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. 20Υ7 20Y6 Inventory turnover b. Determine the number of days' sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. 20Υ7 20Y6 Number of days' sales in inventory days days c. Are the changes in inventory turnover and the number of days' sales in inventory from 20Y6 to 20Y7 favorable or unfavorable?
Subject: accounting
pg up F G enter pg dn Compute Altoona Company's (a) inventory turnover ratio and (b) number of days' sales in inventory ratio, using the following information. Use 365 days year. Round your intermediate calculations to 2 decimal places and final answers to 1 decimal place. Cost of Goods Sold $730,000 Beginning Inventory 53,000 Ending Inventory 68,000 (a) Inventory Turnover Ratio 60,500 (b) Number of Days' Sales in Inventory Ratio 200 Feedback Check My Work a. Refer to the textbook for the inventory turnover ratio formula. Consider the average inventory portion of the formula carefully. b. Average inventory utilizes the total number of days in a year to determine the number of days' sales in inventory ratio. (Refer to the textbook for the formula). 4 more Check My Work uses remaining.
Anthony Corporation reported the following amounts for the year: Net sales $ 296,000 Cost of goods sold 138,000 Average inventory 50,000 Anthony's average days in inventory is: (Round to the nearest whole day.) Multiple Choice 170 days. 114 days. 132 days. 151 days.
During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Weighted Average Cost Total Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Transaction Sales revenue Gross profit For the entire year, the company sells 450 units of inventory for $70 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Number of Units 60 140 210 120 530 Cost of Goods Available for Sale # of units 60 140 210 120 530 Average Cost per unit Cost of Goods Available for Sale $ $ Unit Cost 3,120 $ 52 54 57 58 7,560 11,970 6.960 29,610 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 Cost of Goods Sold - Weighted Average Cost of units Sold Average Cost of Cost per Unit Goods Sold Ending Inventory - Weighted Average Cost # of units in Ending Inventory…
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