This information is available for Monty Inc. for 2021 and 2022.(in millions)Beginning inventoryEnding inventoryCost of goods soldSalesDays in inventory20212022$2.5402,97124,351 23,09743,48342,105Inventory tumover ratioGross profit rate$2,163Calculate the inventory turnover, days in inventory, and gross profit rate for Monty Inc. for 2021 and 2022. (Round gross profit rateto 2 decimal places, e.g. 0.25 and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.)2,540202126140.444timesdays202221173845.14timesdays

Financial ratios refer to the metric that summarizes all the financial information into a few…

This information is available for Monty Inc. for 2021 and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales 2021 Days in inventory Inventory turnover ratio Gross profit rate $2.163 $2.540 2,540 2.971 24,351 43,483 2022 Calculate the inventory turnover, days in inventory, and gross profit rate for Monty Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, e.g. 0.25 and all other answers to 1 decimal place, eg. 15.2. Use 365 days for calculation) 2021 23,097 42,105 1000 26 1404 44 times days 2022 2.1 times 1738 days 45.14

This information is available for Monty Inc. for 2021 and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales 2021 Days in inventory Inventory turnover ratio Gross profit rate $2.163 $2.540 2,540 2.971 24,351 43,483 2022 Calculate the inventory turnover, days in inventory, and gross profit rate for Monty Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, e.g. 0.25 and all other answers to 1 decimal place, eg. 15.2. Use 365 days for calculation) 2021 23,097 42,105 1000 26 1404 44 times days 2022 2.1 times 1738 days 45.14

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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Subject: accounting