Nestlé reports beginning raw materials inventory of 3,815 and ending raw materials inventory of 3,499 (both numbers in millions of Swiss francs). Assume Nestlé purchased 13,860 and used 14,176 (in millions) in raw materials during the year. Compute raw materials inventory turnover (round to one decimal) and the number of days’ sales in raw materials inventory (round to the nearest day).

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Nestlé reports beginning raw materials inventory of 3,815 and ending raw materials inventory of 3,499
(both numbers in millions of Swiss francs). Assume Nestlé purchased 13,860 and used 14,176 (in millions)
in raw materials during the year. Compute raw materials inventory turnover (round to one decimal)
and the number of days’ sales in raw materials inventory (round to the nearest day).

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