Use 365 days a year Jing Inc. is the leading manufacturer of personal computers. In arecent year, it reported the following in dollars in millions:Net sales revenueCost of sales$65,65653,430Beginning inventory 1,365Ending inventory915Determine the inventory turnover ratio and average days to sellinventory for the current year. (Use 365 days a year).

Explanation of Average Inventory: Average inventory represents the typical inventory level…

Answered: Jing Inc. is the leading manufacturer…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 14P

See similar textbooks

Similar questions

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.
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?
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).
ANSWER
Jing Inc
?!
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 Required: $ 76,291 59,744 1,870 1,810 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
General Account post
Tripod Company makes all sales on account. During the current year, Tripod has an average accounts receivable balance of $60,000, an average inventory balance of $96,000, cost of goods sold of $345,000, and net income of $117.000. If Tripod's gross margin percentage is 42.5%, what was its average collection period? Round to one decimal point. O 18.3 days O 24.3 days O 30.4 days O 36.5 days O None of the above
Polaris Industries Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions):2012 2011 2010 2009Net Sales Revenue $3,200 $2,660 $1,990 $1,570Cost of Goods Sold 2,280 1,900 1,460 1,170Average Inventory 320 270 210 200Required:1. Calculate to one decimal place the inventory turnover ratio and average days to sell inventoryfor 2012, 2011, and 2010.2. Comment on any trends, and compare the effectiveness of inventory managers at Polaris toinventory managers at its main competitor, Arctic Cat, where inventory turned over 5.4 timesin 2012 (67.6 days to sell). Both companies use the same inventory costing method (FIFO)
a. EFG reports annual sales of $ 30 million. Annual costs of goods sold is $ 15 million. Inventory is $ 5 million. Net income is $ 2 million. What is the months of supply of EFG ? Show all formulas used, calculations and results. Do on Blk Bd b. RST has monthly turns of 4, annual cost of goods sold $ 12 million, annual revenue of $ 36 million. What is its average inventory ? Show all formulas used, calculations and results. Do on Blk Bd For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). I U S Paragraph Arial 14px = v = v A ...
Waterway, Inc. had net credit sales of $10900000 and cost of goods sold of $5000000 for the year. The average inventory for the year amounted to $781250. The average days in inventory during the year was approximately a.26 days. b.37 days. C42 days. d.57 days.

SEE MORE QUESTIONS

Recommended textbooks for you

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS