Homework Answers
Answer
| 2017 | 2016 | ||||
| (a) | Inventory turnover | 5.5 | times | 4.6 | times |
| (b) | Average days to collection | 66 | days | 79 | days |
Calculated as
| 2016 | Average Stock | (1642.60+1044.1)/2 | = | 1343.35 |
| 2017 | Average Stock | (934.2+1044.1)/2 | = | 989.15 |
| For 2016 | Inventory Turnover Ratio | Cost of Goods sold | = | 6234.9 | 4.6 times |
| Average Inventory | 1343.35 | ||||
| For 2017 | Inventory Turnover Ratio | Cost of Goods sold | = | 5484.8 | 5.5 times |
| Average Inventory | 989.15 | ||||
| For 2016 | Average days to sell inventory | 365 | = | 365 | 79 days |
| Inventory turnover ratio | 4.6 | ||||
| For 2017 | Average days to sell inventory | 365 | = | 365 | 66 days |
| Inventory turnover ratio | 5.5 |
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The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information in millions)...
The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions)...
The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1 $1,642.6 Fiscal Year Net sales 2017 2016 $7,826.9 $8,664.1 5,484.8 6,234.9 Cost of goods sold Net income 648.0 (665.9) Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, e.g. 65.)...
The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions)...
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The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information (in millions)...
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The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions)...
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The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millio...
The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) Year-end inventories 2017 $934.2 2016 2015 $1,044.1 $1,642.6 Fiscal Year 2017 ER 2016 $7,826.9 $8,664.1 5,484. 8 6 ,234.9 648.0 (665.9) Net sales Cost of goods sold Net income Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inv. decimal places, e.g. 65.) 2016 times times (a) Inventory turnover (b) Average days to sell inventory...
The financial statements of ConAgra Foods, Inc.’s 2017 annual report disclose the following information. (in millions)...
The financial statements of ConAgra Foods,
Inc.’s 2017 annual report disclose the following
information.
(in
millions)
2017
2016
2015
Year-end inventories
$934.2
$1,044.1
$1,642.6
Fiscal Year
2017
2016
Net sales
$7,826.9
$8,664.1
Cost of goods sold
5,484.8
6,234.9
Net income
648.0
(665.9)
Compute ConAgra’s (a) inventory turnover and (b) the average days
to sell inventory for 2017 and 2016. (Round inventory
turnover to 1 decimal place, e.g. 7.6 and average days to sell
inventory to 0 decimal places, e.g. 65.)...
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Please answer.
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The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1 $1,642.6 Fiscal Year 2017 2016 Net sales $7,826.9 $8,664.1 Cost of goods sold 6,234.9 5,484.8 Net income 648.0 (665.9) Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, e.g. 65.)...
The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1 $1,642.6 Fiscal Year 2017 2016 Net sales $7,826.9 $8,664.1 Cost of goods sold 5,484.8 6,234.9 Net income 648.0 (665.9) Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, e.g. 65.)...
The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) Year-end inventories 2017 $934.2 2016 2015 $1,044.1 $1,642.6 Fiscal Year 2017 ER 2016 $7,826.9 $8,664.1 5,484. 8 6 ,234.9 648.0 (665.9) Net sales Cost of goods sold Net income Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inv. decimal places, e.g. 65.) 2016 times times (a) Inventory turnover (b) Average days to sell inventory...
The financial statements of ConAgra Foods,
Inc.’s 2017 annual report disclose the following
information.
(in
millions)
2017
2016
2015
Year-end inventories
$934.2
$1,044.1
$1,642.6
Fiscal Year
2017
2016
Net sales
$7,826.9
$8,664.1
Cost of goods sold
5,484.8
6,234.9
Net income
648.0
(665.9)
Compute ConAgra’s (a) inventory turnover and (b) the average days
to sell inventory for 2017 and 2016. (Round inventory
turnover to 1 decimal place, e.g. 7.6 and average days to sell
inventory to 0 decimal places, e.g. 65.)...
Please answer.
Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of S) 2017 2016 2015 Cash $ 73$ 245 36 Accounts receivable 122 6020 (net) Inventory Prepaid rent Plant and equipment (net) Accounts payable Accrued liabilities Income tax payable Preferred shares Common shares Retained earnings Airspace Technologies Inc. Income Statement For Year Ended November 30, 2017 (millions of $) 2017 2016 Net sales $ 1,440 $1,224 Cost of goods sold 516 444 $ 924...
Brief Exercise 13-11 The following data are taken from the financial statements of Cullumber Company. 2017 2016 Accounts receiva ble (net), end of year $564,600 $564,500 Net sales on account 4,018,000 4,898,000 Terms for all sales are 1/10, n/45 Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $516,500. (Round answers to 1 decimal place, e.g. 12.5.) 2017 2016 Accounts receivable turnover times times Compute for each year the average collection period. (Round...
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