At December 31, 2022, the following information (in thousands) was available for Flounder Inc.: ending inventory...
At December 31, 2022, the following information (in thousands)
was available for Flounder Inc.: ending inventory $22,600;
beginning inventory $21,200; cost of goods sold $175,200, and sales
revenue $445,000.
Calculate the inventory turnover and days in inventory for
Flounder. (Round answers to 1 decimal places, e.g.
15.2. Use 365 days for calculation.)
Homework Answers
The inventory turnover ratio
= cost of goods sold ÷average inventory
= 175200 ÷ ((21200+22600)/2)
= 8 times
Days in inventory = 365 ÷ inventory turnover ratio
= 365 ÷ 8
= 45.6 days
Add Answer to:
At December 31, 2022, the following information (in thousands)
was available for Flounder Inc.: ending inventory...
Suppose at December 31 of a recent year, the following information in thousands) was available for...
Suppose at December 31 of a recent year, the following information in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $166,000; beginning inventory $120,000; cost of goods sold $351,780 and sales revenue $761,000. Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover times SHOW LIST OF ACCOUNTS udy Calculate the days in inventory for Oakley, Inc. (Round days in inventory to decimal places, eg. 125.) Days in Inventory days
This information is available for Culver Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning...
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At December 31, 2017, the following information was available for A. Kamble Company: ending inventory $38,250,...
At December 31, 2017, the following information was available for
A. Kamble Company: ending inventory $38,250, beginning inventory
$58,500, cost of goods sold $273,000, and sales revenue
$366,000.
A) Calculate inventory turnover for A. Kamble Company.
(Round answer to 1 decimal place, e.g.
1.5.)
Inventory turnover
times
B) Calculate days in inventory for A. Kamble Company.
(Round answer to 1 decimal place, e.g. 1.5. Use 365
days for calculation.)
Days in inventory
$
days
Suppose at December 31 of a recent year, the following information (in thousands) was available for...
Suppose at December 31 of a recent year, the following
information (in thousands) was available for sunglasses
manufacturer Oakley Inc.: ending inventory
$175,000; beginning inventory $119,000; cost of goods sold $414,540
and sales revenue $773,000.
Calculate the inventory turnover for Oakley, Inc.
(Round inventory turnover to 2 decimal places, e.g.
5.12.)
Inventory turnover
enter inventory turnover ratio rounded to 2 decimal places
times
Calculate the days in inventory for Oakley, Inc.
(Round days in inventory to 0 decimal places, e.g....
The following information is available for Grouper Company for 2022. Grouper uses the LIFO inventory method....
The following information is available for Grouper Company for 2022. Grouper uses the LIFO inventory method. Beginning inventory Ending inventory Beginning LIFO reserve Ending LIFO reserve Cost of goods sold Sales $608,500 719,000 205,000 298,000 5,859,075 7,961,000 Calculate the inventory turnover and days in inventory for Grouper Company based on LIFO. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover times Days in inventory days Calculate the inventory turnover and days in inventory after...
The following information was available for Metlock, Inc. at December 31, 2017: beginning inventory $79000; ending...
The following information was available for Metlock, Inc. at December 31, 2017: beginning inventory $79000; ending inventory $134000; cost of goods sold $608000; and sales $888000. Metlock days in inventory in 2017 was (Round intermediate calculation to 1 decimal place, e.g. 1.2.)
Brief Exercise 6-10 Suppose at December 31 of a recent year, the following information in thousands)...
Brief Exercise 6-10 Suppose at December 31 of a recent year, the following information in thousands) was available for sunglasses manufacturer Caldey Inc.: ending invento $167,000; beginning inventory $124,000; cost of goods sold $369,570 and sales revenue $781,000. Calculate the inventory turnover for Oakley, Inc. (Round Inventory turnover to 2 decimal places, e.g. 5.12.) dy Inventory turnover times SHOW LIST OF ACCOUNTS LINK TO TEXT Calculate the days in Inventory for Oakley, Inc. (Round days in inventory to o decimal...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory End...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue 2020 $2,100 2,400 16,200 39,800 2021 $2,400 2,700 18,105 42,600 2022 $2,700 2,800 17,600 42,510 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times Calculate the days in inventory for 2020, 2021, and 2022. (Round days in inventory...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $44,000 beginning inventory $58,000, cost of goods sold $260,000, and sales revenue $370,000. Calculate inventory turnover for E. Hetzel Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER ? (b) Calculate days in inventory for E. Hetzel Company. (Round answer to 1 decimal...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory 2020 2021 2022 $1,800 $2,300 $2,600 2,300 2,600 2,700 Cost of goods sold 18,450 21,805 21,730 Sales revenue 40,200 47,200 47,140 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times e Textbook and Media Calculate the days in inventory for 2020, 2021, and 2022....
Suppose at December 31 of a recent year, the following information in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $166,000; beginning inventory $120,000; cost of goods sold $351,780 and sales revenue $761,000. Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover times SHOW LIST OF ACCOUNTS udy Calculate the days in inventory for Oakley, Inc. (Round days in inventory to decimal places, eg. 125.) Days in Inventory days
This information is available for Culver Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning inventory Ending inventory $2,239 $2,442 2,442 2,958 24,943 23,259 Cost of goods sold Sales 43,441 42,427 Calculate the inventory turnover, days in inventory, and gross profit rate for Culver Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, eg. 0.25 and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 2021 2022 Inventory turnover ratio...
At December 31, 2017, the following information was available for
A. Kamble Company: ending inventory $38,250, beginning inventory
$58,500, cost of goods sold $273,000, and sales revenue
$366,000.
A) Calculate inventory turnover for A. Kamble Company.
(Round answer to 1 decimal place, e.g.
1.5.)
Inventory turnover
times
B) Calculate days in inventory for A. Kamble Company.
(Round answer to 1 decimal place, e.g. 1.5. Use 365
days for calculation.)
Days in inventory
$
days
Suppose at December 31 of a recent year, the following
information (in thousands) was available for sunglasses
manufacturer Oakley Inc.: ending inventory
$175,000; beginning inventory $119,000; cost of goods sold $414,540
and sales revenue $773,000.
Calculate the inventory turnover for Oakley, Inc.
(Round inventory turnover to 2 decimal places, e.g.
5.12.)
Inventory turnover
enter inventory turnover ratio rounded to 2 decimal places
times
Calculate the days in inventory for Oakley, Inc.
(Round days in inventory to 0 decimal places, e.g....
The following information is available for Grouper Company for 2022. Grouper uses the LIFO inventory method. Beginning inventory Ending inventory Beginning LIFO reserve Ending LIFO reserve Cost of goods sold Sales $608,500 719,000 205,000 298,000 5,859,075 7,961,000 Calculate the inventory turnover and days in inventory for Grouper Company based on LIFO. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover times Days in inventory days Calculate the inventory turnover and days in inventory after...
Brief Exercise 6-10 Suppose at December 31 of a recent year, the following information in thousands) was available for sunglasses manufacturer Caldey Inc.: ending invento $167,000; beginning inventory $124,000; cost of goods sold $369,570 and sales revenue $781,000. Calculate the inventory turnover for Oakley, Inc. (Round Inventory turnover to 2 decimal places, e.g. 5.12.) dy Inventory turnover times SHOW LIST OF ACCOUNTS LINK TO TEXT Calculate the days in Inventory for Oakley, Inc. (Round days in inventory to o decimal...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue 2020 $2,100 2,400 16,200 39,800 2021 $2,400 2,700 18,105 42,600 2022 $2,700 2,800 17,600 42,510 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times Calculate the days in inventory for 2020, 2021, and 2022. (Round days in inventory...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $44,000 beginning inventory $58,000, cost of goods sold $260,000, and sales revenue $370,000. Calculate inventory turnover for E. Hetzel Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER ? (b) Calculate days in inventory for E. Hetzel Company. (Round answer to 1 decimal...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory 2020 2021 2022 $1,800 $2,300 $2,600 2,300 2,600 2,700 Cost of goods sold 18,450 21,805 21,730 Sales revenue 40,200 47,200 47,140 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times e Textbook and Media Calculate the days in inventory for 2020, 2021, and 2022....
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