Problem 10 Refer to Problem 9.(Problem 9 The financial statement of mythical Reliance Inc. show that in 2012, its beginning inventory balance was $31.82 billion and ending inventory balance was $30.25 billion. The company's cost of goods sold was reported as $290.70 billion(all in U.S. dollars). Calculate the company's inventory turnover ratio for 2012.)
Problem 10 Refer to Problem 9.(Problem 9 The financial statement of mythical Reliance Inc. show that in 2012, its beginning inventory balance was $31.82 billion and ending inventory balance was $30.25 billion. The company's cost of goods sold was reported as $290.70 billion(all in U.S. dollars). Calculate the company's inventory turnover ratio for 2012.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Problem 10
Refer to Problem 9.(Problem 9 The financial statement of mythical Reliance Inc.
show that in 2012, its beginning inventory balance was
$31.82 billion and ending inventory balance was $30.25
billion. The company's cost of goods sold was reported
as $290.70 billion(all in U.S. dollars). Calculate the
company's inventory turnover ratio for 2012.)
What is Reliance Inc.'s days of
inventory in stock if, in 2013, the company's beginning
inventory balance was $30.25 billion, its ending inventory
balance was $29.12 billion, and the cost of goods sold
was $272.22 billion?
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