Accurate Answer JASPER TECHNOLOGIES IS A MAJOR MANUFACTURER OF CONSUMERELECTRONICS. IN A RECENT YEAR, IT REPORTED THE FOLLOWINGIN DOLLARS IN MILLIONS:AMOUNTNET SALES REVENUE$58,920COST OF SALES$46,880BEGINNING INVENTORY 1,210ENDING INVENTORY970DETERMINE THE INVENTORY TURNOVER RATIO AND AVERAGEDAYS TO SELL INVENTORY FOR THE CURRENT YEAR. (USE 365 DAYSA YEAR).

Step 1: Definition of Inventory Turnover Ratio and Average Days to Sell InventoryInventory Turnover…

Answered: JASPER TECHNOLOGIES IS A MAJOR…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 14P

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Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?
The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
Sheldon Inc. is the leading manufacturer of personal computers. In a recent year, it reported the following in dollars in millions: Net sales revenue $ 61,161 Cost of sales 50,444 Beginning inventory 1,280 880 Ending inventory Determine the inventory turnover ratio and average days to sell inventory for the current year. (Use 365 days a year).
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Dell Incorporated is the leading manufacturer of personal computers. In a recent year, it reported the following in millions of dollars: Net sales revenue Cost of sales Beginning inventory Ending inventory $ 76,141 58,344 1,700 1,880 Required: Determine the inventory turnover ratio and average days to sell inventory for the current year. Note: Use 365 days a year. Round "Inventory turnover" to 2 decimal places and "Average days to sell inventory" to 1 decimal place. Inventory turnover Average days to sell inventory days
GREEN Enterprises reported the following information for the current year: Inventory, January 1 - P2,300,000; Purchases - 27,105,000; Purchase returns and allowances - 520,000; Sales returns and allowances - P692,000; Inventory, December 31 - 2,470,000. Gross profit rate on net sales is 20%. What is the amount of gross sales for the current year?
The following data were extracted from the income statement of Keever Inc.: Current Year Previous YearSales $18,500,000 $20,000,000Beginning inventories 940,000 860,000Cost of goods sold 9,270,000 10,800,000Ending inventories 1,120,000 940,000a. Determine for each year (1) the inventory turnover and (2) the number of days’ sales in inventory. Round to the nearest dollar and one decimal place.b. What conclusions can be drawn from these data concerning the inventories?
Bobaflex Corporation has endinginventory of $527,156 and cost of goods sold for the year just ended was$8,543,132. What is the inventory turnover? The days’ sales in inventory?How long on average did a unit of inventory sit on the shelf before it wassold?
Vaughn Manufacturing had January 1 inventory of $300000 when it adopted dollar-value LIFO. During the year, purchases were $1850000 and sales were $2930000. December 31 inventory at year-end prices was $435480, and the price index was 114.What is Vaughn Manufacturing’s gross profit?
Horizon Corporation has the following data for the year: • Beginning inventory: $80,000 Purchases during the year: $150,000 Ending inventory: $60,000 What is Horizon Corporation's Cost of Goods Sold (COGS) for the year?
Perez Corporation has the following financial data for the years 20X1 and 20X2: Sales Cost of goods sold Inventory 20X1 20X2 20X1 $ 5,221,000 3,632,000 454,000 a. Compute the inventory turnover for each year using the formula Sales/Inventory. Note: Round your answers to 1 decimal place. Inventory Turnover Ratio times times 20X2 $ 6,578,000 4,862,000 572,000 b. Compute inventory turnover based on an alternative calculation that is used by many financial analysts, Cost of goods sold/Inventory, for each year. Note: Round your answers to 1 decimal place.
Jing Inc

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