In its 2018 annual report, Gap Inc. reported inventory of $1,997 million on January 31, 2018, and $1,830 million on February 1, 2017, cost of goods sold of $9,789 million for 2018, and net sales of $15,855 million. Compute Gap’s inventory turnover and the average days to sell inventory for the fiscal year 2018.

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Q: In a recent annual report, Bonita Inc. reported beginning inventory of $1,400 million and ending…

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A: INVENTORY TURNOVER RATIO Inventory Turnover Ratio is the Ratio between Cost of Goods Sold &…

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Q: On January 1, 2020, the merchandise inventory of Shoesmith Corp. was $600,000. During 2020,…

A: Sales Revenue in the business is made up of cost of goods sold and gross profit.  Sales Revenue =…

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A:

Q: At the beginning of the year, Albertson Incorporated reports inventory of $7,700. During the year,…

A: Cost of goods sold means the amount of cost incurred on the making of the goods sold in the market.…

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A: a.Calculate the cost of goods sold of Company H.

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A: Inventory Turnover = Cost of Goods Sold/Average Inventory

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