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
Related questions
Question
Happy Valley Homecare Suppliers, Incorporated (HVHS), had
$13.6
million in sales in 2010. Its cost of goods sold was
$5.44
million, and its average inventory balance was
$1.67
million.a. Calculate the average number of days inventory outstanding ratios for HVHS.
b. The average number of inventory days in the industry is 73 days. By how muchmust HVHS reduce its investment in inventory to improve its inventory days to meet the industry?
(Hint: Use a 365-day year.)
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