Kroger, Sprouts Farmers Market, Inc., and Whole Foods Markets, 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: Kroger Sprouts Whole Foods Cost of merchandise sold $85,512 $2,541 $9,973 Inventory, end of year 5,688 165 500 Inventory, beginning of year 5,651 143 441 a. & b. Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to one decimal place) 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 two decimal places.

Kroger, Sprouts Farmers Market, Inc., and Whole Foods Markets, 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: Kroger Sprouts Whole Foods Cost of merchandise sold $85,512 $2,541 $9,973 Inventory, end of year 5,688 165 500 Inventory, beginning of year 5,651 143 441 a. & b. Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to one decimal place) 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 two decimal places.

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Description: **Inventory Turnover and Days' Sales in Inventory**Kroger, Sprouts Farmers Market, Inc., and Whole Foods Markets, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent

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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