Tara Corporation reported the following information in a recent Form 10-K. Consolidated Statements of Operations Current Year ($ millions) Cost of sales $103,994 Consolidated Statement of Financial Position ($ millions) Current Year Prior Year Inventory $17,202 $16,564 Compute (a) inventory turnover ratio, and (b) average days in inventory, for the current fiscal year. Ratio Inventory turnover ratio $ 103,994/$ Average days in inventory 0x/ Numerator / Denominator = X = 0x = Result
Tara Corporation reported the following information in a recent Form 10-K. Consolidated Statements of Operations Current Year ($ millions) Cost of sales $103,994 Consolidated Statement of Financial Position ($ millions) Current Year Prior Year Inventory $17,202 $16,564 Compute (a) inventory turnover ratio, and (b) average days in inventory, for the current fiscal year. Ratio Inventory turnover ratio $ 103,994/$ Average days in inventory 0x/ Numerator / Denominator = X = 0x = Result
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 27CE: Inventory Analysis Singleton Inc. reported the following information for the current year: Required:...
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