ANSWER 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).

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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

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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).
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
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 ...
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Dabble, Inc. has sales of $970,000 and cost of goods sold of $461,000. The firm had an average inventory of $41,000. What is the length of the days' sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places.) Days' sales in inventory days
Last year, Wilson's had credit sales of $927,000 and cost of goods sold of $762,000. The beginning of the year inventory was $138,000 and the end of the year inventory was $154,300. If the accounts receivables average $87,400, what is the operating cycle (using average inventories during the year)?
Dulaney's Stores has posted the following yearly earnings and expenses. Click the icon to view the yearly data. a. Dulaney's current profit margin is%. (Enter your response rounded to one decimal place.) More Info Earnings and Expenses (Year Ending January 2012) $30,000,000 $25,000,000 $2,730,000 Sales Cost of goods sold (COGS) Pretax earnings Selected Balance Sheet Items Merchandise Inventory Total assets $1,365,000 $9,000,000 X
On average, a firm sells $2,000,000 in merchandise a month. It keeps inventory equal to one-half of its monthly sales on hand at all times. If the firm analyzes its accounts using a 365-day year, what is the firm’s inventory conversion period (ICP)? (Hint: ICP = 365/(sales/inventory)
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