Sonos. Incorporated, was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory Required: 2018 $ 1,140 Inventory Turnover Ratio Days to Sell 650 115 195 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your Intermediate and final answers to 1 decimal place.) 2017 $ 990 540 55 115 2018 times per year days 2017 times per year days

Sonos. Incorporated, was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory Required: 2018 $ 1,140 Inventory Turnover Ratio Days to Sell 650 115 195 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your Intermediate and final answers to 1 decimal place.) 2017 $ 990 540 55 115 2018 times per year days 2017 times per year days

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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