Question

2019 2018 2017 Dollar Change Dollar Ch $ $ S S Millions Assets Curent Assets: Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other Total current assets Property and equipment: Property and equipment Less: Accumulated Depreciation Property and Equipment, net Property under Capital lease and fianancing obligations, net: Property under Capital lease and financing obligations Less: Accumulated amortization Property under capital lease and financing obligations, net. 7,722 6,283 44,269 3,623 61,897 6,756 5,614 43,783 3,511 59,664 6,867 $ 5,835 43,046 1,941 57,689 855 448 1,223 1,682 4,208 185,810 -81,493 104,317 185,154 -77,479 107,675 179,492 - 71,782 107,710 6,318 -9,711 -3,393 12,760 -5,682 7,078 12,703 -5,560 7,143 11,637 -5,169 6,468 1,123 -513 610 Goodwill Other long tern assets Total long-term assets Total asets 31,181 14,822 157,398 219.295 18,242 11.79 144.858 204,522 17,037 9,921 141.136 198.825 14,144 4,901 16,262 20,4705 $ 5 $ 30 Labilities: 11 Current Liabilities: Short-term borrowings 13 Accounts payable 5,225 20 S 5.257 S 1.099 $

Answer 1

5) Inventory Turnover

Cost of goods sold = Opening inventory + Purchases - Closing inventory

= Cost of sales

= $ 385,301

Average inventory = (Opening inventory + Closing inventory) / 2

= (43,783 + 44,269) / 2

= $ 44,526

Inventory turnover = Cost of goods sold / Average inventory

= $ 385,301 / $ 44,526

= $ 8.6534 times

6) Average days' inventory on hand = Ending inventory / (Cost of goods sold / 365)

= 44,269 / (385,301 / 365)

= 44,269 / 1055.62

= 41.93 days (or 42 days)