HBläckboard Learn X Easy Access to Internet Services CCsu.blackboard.com/webapps/blackboard/content/contentWrapperjsp?course_id=_43047 1&disp - C Central Connecticut State University McGraw-Hill CONNECT SEC 09 GameWorld Corp. is the world's largest multichannel video game retailer. The company reported the following amounts in its financial statements (in millions). 2012 $10,400 $ 9,900 6,440 2013 Net Sales Revenue Cost of Goods Sold 6,840 1,950 1,250 Beginning Inventory Ending Inventory 2,350 1,950 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012 (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory). 2013 2012 |Inventory Turnover Ratio times per year times per year Days to Sell days days 2. Is GameWorld performing better than its competitor Ultimate Value where inventory turned over 3.6 times during 2013 (65 days to sell). OYes e
HBläckboard Learn X Easy Access to Internet Services CCsu.blackboard.com/webapps/blackboard/content/contentWrapperjsp?course_id=_43047 1&disp - C Central Connecticut State University McGraw-Hill CONNECT SEC 09 GameWorld Corp. is the world's largest multichannel video game retailer. The company reported the following amounts in its financial statements (in millions). 2012 $10,400 $ 9,900 6,440 2013 Net Sales Revenue Cost of Goods Sold 6,840 1,950 1,250 Beginning Inventory Ending Inventory 2,350 1,950 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012 (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory). 2013 2012 |Inventory Turnover Ratio times per year times per year Days to Sell days days 2. Is GameWorld performing better than its competitor Ultimate Value where inventory turned over 3.6 times during 2013 (65 days to sell). OYes e
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 1
Transcribed Image Text:HBläckboard Learn
X
Easy Access to Internet Services
CCsu.blackboard.com/webapps/blackboard/content/contentWrapperjsp?course_id=_43047 1&disp
- C
Central Connecticut State University
McGraw-Hill CONNECT SEC 09
GameWorld Corp. is the world's largest multichannel video game retailer. The company reported the
following amounts in its financial statements (in millions).
2012
$10,400 $ 9,900
6,440
2013
Net Sales Revenue
Cost of Goods Sold
6,840
1,950
1,250
Beginning Inventory
Ending Inventory
2,350
1,950
Required:
1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012 (Use 365
days in a year. Round your intermediate and final answers to 1 decimal place.)
TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory).
2013
2012
|Inventory Turnover
Ratio
times per year
times per year
Days to Sell
days
days
2. Is GameWorld performing better than its competitor Ultimate Value where inventory turned over 3.6
times during 2013 (65 days to sell).
OYes
e
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