Homework Help is Here – Start Your Trial Now!
Business
Accounting
Inventory Turnover and days' sales in inventory Kracker Corp., Foodstuff, Inc., and Winston Stores, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise invento (in millions) information: Cost of merchandise sold Inventory, beginning of year Inventory, end of year Kracker Corp. $33,580.0 1,951.3 1,912.7 Foodstuff Inc. $34,675.0 2,131.8 2,048.2 Winston Stores $35,770.0 1,514.1 1,425.9 thie Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies. Round all interim calculations to one decimal place. For days' sales in inventory, round final answers to the nearest day, and for inventory turnover, round to one decimal place. Company names Days' Sales in Inventory Kracker days Foodstuff days Winston Stores days ✔ c. The inventory turnover ratios and days' sales in inventory are similar ✔ for Kracker and Foodstuff. Winston Stores has a higher inventory turnover and a lower ✔ days' sales in inventory than Kracker and Foodstuff. These results suggest that Kracker and Foodstuff are less ✔ efficient than Winston Stores in managing inventory. Inventory Turnover d. If Kracker had Winston Stores' days' sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? Round interim calculations to one decimal place and your final answer to the nearest million. $ million

Inventory Turnover and days' sales in inventory Kracker Corp., Foodstuff, Inc., and Winston Stores, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise invento (in millions) information: Cost of merchandise sold Inventory, beginning of year Inventory, end of year Kracker Corp. $33,580.0 1,951.3 1,912.7 Foodstuff Inc. $34,675.0 2,131.8 2,048.2 Winston Stores $35,770.0 1,514.1 1,425.9 thie Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies. Round all interim calculations to one decimal place. For days' sales in inventory, round final answers to the nearest day, and for inventory turnover, round to one decimal place. Company names Days' Sales in Inventory Kracker days Foodstuff days Winston Stores days ✔ c. The inventory turnover ratios and days' sales in inventory are similar ✔ for Kracker and Foodstuff. Winston Stores has a higher inventory turnover and a lower ✔ days' sales in inventory than Kracker and Foodstuff. These results suggest that Kracker and Foodstuff are less ✔ efficient than Winston Stores in managing inventory. Inventory Turnover d. If Kracker had Winston Stores' days' sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? Round interim calculations to one decimal place and your final answer to the nearest million. $ million

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please help me with all I will give upvote thanku 

Inventory Turnover and days' sales in inventory Kracker Corp., Foodstuff, Inc., and Winston Stores, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise inventory (in millions) information: Cost of merchandise sold Inventory, beginning of year Inventory, end of year Kracker Foodstuff Kracker Corp. $33,580.0 1,951.3 1,912.7 Winston Stores Foodstuff Inc. $34,675.0 2,131.8 2,048.2 the Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies. Round all interim calculations to one decimal place. For days' sales in inventory, round final answers to the nearest day, and for inventory turnover, round to one decimal place. Company names Days' Sales in Inventory days days days c. The inventory turnover ratios and days' sales in inventory are similar ✔ for Kracker and Foodstuff. Winston Stores has a higher ✔ Foodstuff are less ✓ efficient than Winston Stores in managing inventory. Winston Stores Inventory Turnover $35,770.0 1,514.1 1,425.9 inventory turnover and a lower ✓ days' sales in inventory than Kracker and Foodstuff. These results suggest that Kracker and d. If Kracker had Winston Stores' days' sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? Round interim calculations to one decimal place and your final answer to the nearest million. $ million
Transcribed Image Text:Inventory Turnover and days' sales in inventory Kracker Corp., Foodstuff, Inc., and Winston Stores, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise inventory (in millions) information: Cost of merchandise sold Inventory, beginning of year Inventory, end of year Kracker Foodstuff Kracker Corp. $33,580.0 1,951.3 1,912.7 Winston Stores Foodstuff Inc. $34,675.0 2,131.8 2,048.2 the Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies. Round all interim calculations to one decimal place. For days' sales in inventory, round final answers to the nearest day, and for inventory turnover, round to one decimal place. Company names Days' Sales in Inventory days days days c. The inventory turnover ratios and days' sales in inventory are similar ✔ for Kracker and Foodstuff. Winston Stores has a higher ✔ Foodstuff are less ✓ efficient than Winston Stores in managing inventory. Winston Stores Inventory Turnover $35,770.0 1,514.1 1,425.9 inventory turnover and a lower ✓ days' sales in inventory than Kracker and Foodstuff. These results suggest that Kracker and d. If Kracker had Winston Stores' days' sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? Round interim calculations to one decimal place and your final answer to the nearest million. $ million
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Income Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS