Monster Beverage Corporation (MNST) develops, markets, and sells energy and other alternative beverage brands. Brown-Forman Corporation (BF.B) manufactures and sells a wide variety of spirit and wine beverages, such as Jack Daniel's. The cost of goods sold and inventory were obtained from a recent annual report for both companies as follows (in millions): Monster Beverage $1,512 Monster Beverage Cost of goods sold Inventories: Beginning of year 256 End of year 278 a. Determine the inventory turnover for both companies. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Inventory Turnover Brown-Forman $973 . the merchandising strategy. 2. the aging process. 3. raw material availability. 4. the demand for the product. 1,379 1,520 Brown-Forman b. Determine the days' sales in inventory for both companies. Assume a 365-day year. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Number of Days' Sales in Inventory Monster Beverage days Brown-Forman days c. The difference in the inventory efficiency is mainly due to

Monster Beverage Corporation (MNST) develops, markets, and sells energy and other alternative beverage brands. Brown-Forman Corporation (BF.B) manufactures and sells a wide variety of spirit and wine beverages, such as Jack Daniel's. The cost of goods sold and inventory were obtained from a recent annual report for both companies as follows (in millions): Monster Beverage $1,512 Monster Beverage Cost of goods sold Inventories: Beginning of year 256 End of year 278 a. Determine the inventory turnover for both companies. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Inventory Turnover Brown-Forman $973 . the merchandising strategy. 2. the aging process. 3. raw material availability. 4. the demand for the product. 1,379 1,520 Brown-Forman b. Determine the days' sales in inventory for both companies. Assume a 365-day year. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Number of Days' Sales in Inventory Monster Beverage days Brown-Forman days c. The difference in the inventory efficiency is mainly due to

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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