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
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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