Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.(in millions)202020212022Beginning inventory$116,000$317,500$410,500Ending inventory317,500410,500476,500Cost of goods sold895,000 1120,000 1.297.500Sales revenue1.195,000 1595,500 1.894.000(a)Calculate the inventory turnover for 2020, 2021, and 2022. Round answers to 1 decimal places, eg. 15.2InventoryturnovereTextbook and MediaSave for Lid20202021times2022Attempts: unlimitedSubmit Ans

The objective of the question is to calculate the inventory turnover for the years 2020, 2021, and…

Answered: Suppose this information is available…

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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Cullumber Games reported the following information for a three-year period: 2024 2023 2022 Ending inventory $21,200 $31,800 $36,040 Sales 132,500 135,680 121,900 Cost of goods sold 53,000 54,272 48,760 Profit 31,800 44,520 42,400 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2024 and 2023. (Round number of days answers to O decimal places, e.g. 52 and other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.) Inventory turnover Days sales in inventory Gross profit margin 2024 times days 2023 times days % %
Use the following information regarding Skysong, Inc. and Kingbird, Inc. to answer the question “Which amount is equal to Skysong, Inc.'s "days in inventory" for 2022 (to the closest decimal place)?” (Use 365 days for calculation.) * Year Inventory Turnover Ending Inventory Skysong, Inc. 2020 * $26800 * 2021 10.6 $31400 * 2022 10.2 $32400 * Kingbird, Inc. 2020 * $26340 * 2021 8.5 $25230 * 2022 9.2 $23010
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (c) (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) Inventory turnover ratio Your answer is correct. Inventory turnover ratio 2020 Days in inventory $116,000 317,500 895,000 1,120,000 1,595,500 1,195,000 eTextbook and Medial Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) Gross profit rate 2020 2021 2020 $317,500 2020 410,500 Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) 4.1 times 4.1 times 2020 2022 89 days $410,500 476,500 1,297,500 1,894,000 Calculate the days in inventory for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) 2021 % 2021 3.1 times. 2021 3.1 Calculate the gross profit rate for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2 %) 2021 times 117 days 2022 2022 2022 2022 125 2.9 2.9 times times…
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. Calculate the gross profit rate for 2020, 2021, and 2022:
Presented below is information related to Splish Company. December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 Date 2024 2025 2026 2027 $ $ $ $ $ Ending Inventory (End-of-Year Prices) $ $83,600 117,832 Compute the ending inventory for Splish Company for 2022 through 2027 using the dollar-value LIFO method. 116,501 131,709 157,765 190,224 Ending Inventory 83,600 207,802 Price Index 100 100 104 119 129 139 144
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) 2020 Inventory turnover $1,700 2,200 15,015 38,600 2021 $2,200 $2,500 2,500 2022 45,100 2020 17,860 17,595 2,600 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 45,000 times 2021 times 2022 times
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Presented below is information related to Kingbird, Inc. End-of-Year Inventory Price Date (End-of-Year Prices) Index December 31, 2017 $ 1,200,000 100 December 31, 2018 1,522,500 105 December 31, 2019 1,562,000 110 December 31, 2020 1,813,500 117 Compute the ending inventory for Kingbird, Inc. for 2017 through 2020 using the dollar-value LIFO method. Ending Inventory 2017 2018 2019 2020 $ %24 %24
Presented below is information related to Sheffield Company. December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 2024 2025 Date 2026 2027 Ending Inventory (End-of-Year Prices) $ $82,100 117,104 114,835 129,516 154,985 183,168 Compute the ending inventory for Sheffield Company for 2022 through 2027 using the dollar-value LIFO method. Price Index Ending Inventory 100 104 119 129 139 144
The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. ok Sales Cost of goods sold k Accounts receivable Inventory Accounts payable . Toyota Y 28,735,780 24,562,364 Apple $ 276,515 171,559 8,713,065 18,120 2,436,918 6,061 int ences 2,438,980 a. Calculate the length of the operating cycle for Toyota and Apple. 44,296 b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. - a operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota 36 2 days days Apple days day's

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