Homework Help is Here – Start Your Trial Now!
Business
Accounting
Using Inventory Analysis Tools AutoZone and O'Reilly are two competitors in the retail automotive parts industry. AutoZone O'Reilly Average 2018 Inventory $3,912,878 $3,101,572 2018 Sales 11,221,077 9,536,428 2018 Cost of goods sold 5,247,331 4,496,462 $3,757,001 $2,894,388 Average 2017 Inventory 2017 Sales 10,888,676 8,977,726 4,257,043 2017 Cost of goods sold 5,149,056 Use the information above to compute the companies' gross profit margin and days inventory outstanding for both years. Round answers to one decimal place (ex: 0.2345 = 23.5%). 2018 2017 Gross Profit Margin AutoZone 96 96 2018 2017 O'Reilly 96 96 Note: Do not round intermediate computations. Then, round your final answer to nearest whole number (day). Days Inventory Outstanding AutoZone O'Reilly

Using Inventory Analysis Tools AutoZone and O'Reilly are two competitors in the retail automotive parts industry. AutoZone O'Reilly Average 2018 Inventory $3,912,878 $3,101,572 2018 Sales 11,221,077 9,536,428 2018 Cost of goods sold 5,247,331 4,496,462 $3,757,001 $2,894,388 Average 2017 Inventory 2017 Sales 10,888,676 8,977,726 4,257,043 2017 Cost of goods sold 5,149,056 Use the information above to compute the companies' gross profit margin and days inventory outstanding for both years. Round answers to one decimal place (ex: 0.2345 = 23.5%). 2018 2017 Gross Profit Margin AutoZone 96 96 2018 2017 O'Reilly 96 96 Note: Do not round intermediate computations. Then, round your final answer to nearest whole number (day). Days Inventory Outstanding AutoZone O'Reilly

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Topic Video
Question

please dont provide answer in image format thank you

Using Inventory Analysis Tools AutoZone and O'Reilly are two competitors in the retail automotive parts industry. AutoZone O'Reilly Average 2018 Inventory $3,912,878 $3,101,572 2018 Sales 11,221,077 9,536,428 5,247,331 4,496,462 2018 Cost of goods sold Average 2017 Inventory 2017 Sales $3,757,001 $2,894,388 10,888,676 8,977,726 2017 Cost of goods sold 5,149,056 4,257,043 Use the information above to compute the companies' gross profit margin and days inventory outstanding for both years. Round answers to one decimal place (ex: 0.2345= 23.5%). 4 2018 2017 Gross Profit Margin AutoZone 96 96 2018 2017 O'Reilly 96 96 Note: Do not round intermediate computations. Then, round your final answer to nearest whole number (day). Days Inventory Outstanding AutoZone O'Reilly
Transcribed Image Text:Using Inventory Analysis Tools AutoZone and O'Reilly are two competitors in the retail automotive parts industry. AutoZone O'Reilly Average 2018 Inventory $3,912,878 $3,101,572 2018 Sales 11,221,077 9,536,428 5,247,331 4,496,462 2018 Cost of goods sold Average 2017 Inventory 2017 Sales $3,757,001 $2,894,388 10,888,676 8,977,726 2017 Cost of goods sold 5,149,056 4,257,043 Use the information above to compute the companies' gross profit margin and days inventory outstanding for both years. Round answers to one decimal place (ex: 0.2345= 23.5%). 4 2018 2017 Gross Profit Margin AutoZone 96 96 2018 2017 O'Reilly 96 96 Note: Do not round intermediate computations. Then, round your final answer to nearest whole number (day). Days Inventory Outstanding AutoZone O'Reilly
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS