Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.Calculate the inventory turnover for 2020, 2021, and 2022. (in millions)202020212022Beginning inventory$2,000$2,400$2,600Ending inventory2,4002,6002,700Cost of goods sold17,60019,50019,080Sales revenue39,20042,30042,210

Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning…

Answered: (in millions) 2020 2021 2022 Beginning…

(in millions) 2020 2021 2022 Beginning inventory $2,000 $2,400 $2,600 Ending inventory 2,400 2,600 2,700 Cost of goods sold 17,600 19,500 19,080 Sales revenue 39,200 42,300 42,210

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.

Calculate the inventory turnover for 2020, 2021, and 2022.

(in millions)
2020
2021
2022
Beginning inventory
$2,000
$2,400
$2,600
Ending inventory
2,400
2,600
2,700
Cost of goods sold
17,600
19,500
19,080
Sales revenue
39,200
42,300
42,210

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