Encore Construction days sales outstanding is 50 days (365 days in a year). The company’s accounts receivable equal 100 million and its balance sheet shows inventory equal to 125 million. What is the company’s inventory turnover ratio? (assume that the company has a gross profit margin of 35%).
Encore Construction days sales outstanding is 50 days (365 days in a year). The company’s accounts receivable equal 100 million and its balance sheet shows inventory equal to 125 million. What is the company’s inventory turnover ratio? (assume that the company has a gross profit margin of 35%).
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 15BEA: Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000....
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Encore Construction days sales outstanding is 50 days (365 days in a year). The company’s
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