GlobalMart Inc. has the following annual figures: • Net income = $7.8 billion ⚫ Revenue = $68 billion ⚫ Cost of Goods Sold (COGS) = $40 billion Inventory (as per balance sheet) = $5 billion How many weeks of supply does GlobalMart Inc. hold? a) 5.2 weeks b) 6.0 weeks c) 7.1 weeks d) 8.2 weeks
GlobalMart Inc. has the following annual figures: • Net income = $7.8 billion ⚫ Revenue = $68 billion ⚫ Cost of Goods Sold (COGS) = $40 billion Inventory (as per balance sheet) = $5 billion How many weeks of supply does GlobalMart Inc. hold? a) 5.2 weeks b) 6.0 weeks c) 7.1 weeks d) 8.2 weeks
Chapter18: The Management Of Accounts Receivable And Inventories
Section: Chapter Questions
Problem 1P
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I am searching for the correct answer to this financial accounting problem with proper accounting rules.
Transcribed Image Text:GlobalMart Inc. has the following annual figures:
•
Net income = $7.8 billion
⚫ Revenue = $68 billion
⚫ Cost of Goods Sold (COGS) = $40 billion
Inventory (as per balance sheet) = $5 billion
How many weeks of supply does GlobalMart Inc. hold?
a) 5.2 weeks
b) 6.0 weeks
c) 7.1 weeks
d) 8.2 weeks
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