Use the following to calculate the inventory turnover ratio for the year 2017. 2017 2016 Cost of Goods Sold 585,000 475,000 Merchandise inventory 320,000 295,000|
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- Use the following information relating to Medinas Company to calculate the inventory turnover ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023.what is The inventory turnover ratio for 2016? net sales 2016: $177,526 cost of sales 2016: $148,669 Inventories, net 2016: $14,760 net sales 2015: $153,290 Cost of sales 2015: $126,762 inventories, net 2015: $14,001To answer the following questions, use the following information. Round to 1 decimal place for percentages. 2018 2017 2016 Cost of merchandise sold 20,441 19,038 17,405 Inventories 5,261 5,055 4,838 Required: A. Calculate the inventory turnover for the Years 2017 and 2018. B. Calculate the days' sales in inventory for the Years 2017 and 2018. C. Is the change in both the inventory turnover and the days' sales in inventory from 2017 to 2018 favorable or is it unfavorable? Explain your answer.
- Please show me how to do thisIntel Corporation reports the following financial statement amounts in its 10-K reports. $ millions Sales Goods Sold Inventories 2016 $95,019 $24,501 2017 100,418 25,096 2018 113,357 29,162 Cost of Inventory turnover PPE turnover a. Compute the inventory and PPE turnover ratios for both 2017 and 2018. Note: Do not round until your final swer. Note: Round your final answers to one decimal place (for example, enter 6.8 for 6.77555). 2017 $5,553 6,983 7,253 0 0 Plant, Property and Equipment, Net 2018 $36,171 41,109 48,976 0 0Sub. Account
- 2017 2018 Net Sales Revenue $ 5,430 $ 6,080 Cost of Goods Sold 4,100 4,580 Average Inventory 765 880 Required: 1. 1-a. Calculate the inventory turnover ratio for 2018 and 2017.The following information is available for Canadian Tire Corporation (in $ millions): 2018 2017 2016 Inventory $ 1,997.5 $ 1,769.8 $ 1,710.7 Cost of goods sold 8,863.8 8,398.9 7,898.4 (a) Calculate the inventory turnover and days in inventory ratios for 2018 and 2017. (Round inventory turnover to 1 decimal place, e.g. 15.2. Round days in inventory to nearest day, e.g. 15. Use 365 days for calculation.) 2018 2017 Inventory Turnover times times Days in Inventory days days eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b)What was the inventory turnover ratio for 2017?
- General Accountuse the following information relating to clover company to calculate the inventory turnover, ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023 Sales Cost of goods sold Average inventory Year 2021 250,000 187,500 24,000 Year 2022 295,000 221,250 30,000 Year 2023 323,000 242,250 35,000Calculate activity measures The following information was available for the year ended December 31, 2016:Net sales $365,000Cost of goods sold 292,000Average accounts receivable for the year 14,600Accounts receivable at year-end 16,000Average inventory for the year 73,000Inventory at year-end 78,400Required:Calculate the inventory turnover for 2016.Calculate the number of days’ sales in inventory for 2016, using year-end inventories.Calculate the accounts receivable turnover for 2016.Calculate the number of days’ sales in accounts receivable for 2016, using year-end accounts receivable.