Provide answer this accounting question Sheldon Inc. is the leading manufacturer of personalcomputers. In a recent year, it reported the following indollars in millions:Net sales revenue$61,161Cost of sales50,444Beginning inventory 1,280Ending inventory880Determine the inventory turnover ratio and averagedays to sell inventory for the current year. (Use 365 daysa year).

Step 1: Define Inventory Turnover RatioThe Inventory Turnover Ratio is an indicator that assesses…

Answered: Sheldon Inc. is the leading…

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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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?
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.
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).
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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 $ 76,141 58,344 1,700 1,880 Required: 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
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GREEN Enterprises reported the following information for the current year: Inventory, January 1 - P2,300,000; Purchases - 27,105,000; Purchase returns and allowances - 520,000; Sales returns and allowances - P692,000; Inventory, December 31 - 2,470,000. Gross profit rate on net sales is 20%. What is the amount of gross sales for the current year?
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The following data were extracted from the income statement of Keever Inc.: Current Year Previous YearSales $18,500,000 $20,000,000Beginning inventories 940,000 860,000Cost of goods sold 9,270,000 10,800,000Ending inventories 1,120,000 940,000a. Determine for each year (1) the inventory turnover and (2) the number of days’ sales in inventory. Round to the nearest dollar and one decimal place.b. What conclusions can be drawn from these data concerning the inventories?
On January 1, Veltron International has inventory worth $599,900 at cost. At the end of the year, the cost value of the inventory was $173,200. If annual cost of goods sold was $1,609,170, find the inventory turnover at cost for the year. Round your answer to the nearest tenth. Need Help? Read It Watch It Master It
Bobaflex Corporation has endinginventory of $527,156 and cost of goods sold for the year just ended was$8,543,132. What is the inventory turnover? The days’ sales in inventory?How long on average did a unit of inventory sit on the shelf before it wassold?
Perez Corporation has the following financial data for the years 20X1 and 20X2: Sales Cost of goods sold Inventory 20X1 20X2 20X1 $ 5,221,000 3,632,000 454,000 a. Compute the inventory turnover for each year using the formula Sales/Inventory. Note: Round your answers to 1 decimal place. Inventory Turnover Ratio times times 20X2 $ 6,578,000 4,862,000 572,000 b. Compute inventory turnover based on an alternative calculation that is used by many financial analysts, Cost of goods sold/Inventory, for each year. Note: Round your answers to 1 decimal place.

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