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Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General...
Current Attempt in Progress Suppose this information in millions) is available for the Automotive and Other Operat...
Current Attempt in Progress Suppose this information in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method. Beginning inventory S14,475 Ending inventory 13,699 LIFO reserve 1.286 Current assets 60.442 Current liabilities 64.300 Cost of goods sold 162.001 Sales revenue 166.218 ALLEMS. 1 OF 3 used Calculate the current ratio after adjusting for the LIFO reserve. (Round answer to 2 decimal places, es 5.12.) The...
Question 2 The following information is available for Hamm Company for 2020. Hamm uses the LIFO...
Question 2 The following information is available for Hamm Company for 2020. Hamm uses the LIFO inventory method. Beginning inventory $600,000 Ending inventory 700,000 Beginning LIFO reserve 200,000 Ending LIFO reserve 300,000 Cost of goods sold 5,460,000 Sales 8,000,000 1. Calculate the inventory turnover ratio and days in inventory for Hamm Company based on LIFO. 2. Calculate the inventory turnover ratio and days in inventory after adjusting for the LIFO reserve.
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose...
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following information in its 2017 annual report. (in millions) 2017 2016 Inventories (LIFO) $2,512 3,126 Current assets 33,200 Current liabilities 12,550 LIFO reserve 1,449 Cost of goods sold 15,063 Compute Deere & Company’s inventory turnover for 2017. Inventory turnover: ________ Compute Deere & Company’s days in inventory for 2017. Days in inventory: ________ days Compute Deere & Company’s current ratio using...
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment Suppose...
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment Suppose it reported the following information in its 2022 annual report. in millions) 2022 2021 Inventories (LIFO) $2,397 3,042 Current assets 30,857 Current liabilities 12,753 LIFO reserve 1.367 Cost of goods sold 16,255 Compute Deere's inventory turnover for 2022. Round inventory turnover to 2 decimal places, s. 5.12.) Inventory turnover e Textbook and Media Compute Deere's days in inventory entory to decimal places. e. 50...
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 $608,500 719,000 205,000 298,000 5,859,075 7,961,000 Calculate the inventory turnover and days in inventory for Grouper Company based on LIFO. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover times Days in inventory days Calculate the inventory turnover and days in inventory after...
Analyzing Inventory Footnote Disclosure General Motors Corporation reported the following information in its 10-K report: Inventories...
Analyzing Inventory Footnote Disclosure General Motors Corporation reported the following information in its 10-K report: Inventories at December 31 ($ millions) 2008 2007 Productive material, work in process, and supplies $4,849 $6,267 Finished product, service parts, etc. 9,426 10,095 Total inventories at FIFO 14,275 16,362 Less LIFO allowance (1,233) (1,423) Total automotive and other inventories, less allowances $13,042 $14,939 The company reports its inventory using the LIFO costing method during 2007 and 2008. a. At what dollar amount are inventories...
The following information is available for Wildhorse Co. and Pina Colada Corp.: (in millions) Wildhorse Co....
The following information is available for Wildhorse Co. and Pina Colada Corp.: (in millions) Wildhorse Co. 2022 2021 23 12 Pina Colada Corp. 2022 2021 0 28 520 475 515 540 Preferred dividends Net income Shares outstanding at the end of the year Shares outstanding at the beginning of the year 210 195 145 185 195 145 185 220 Based on this information, what is the amount of Wildhorse Co. earnings per share (rounded to two decimals) for 2022? O...
The most recent balance sheet of Raconteurs, Inc., (in millions) is found here: LOADING.... a. Calculate...
The most recent balance sheet of Raconteurs, Inc., (in millions) is found here: LOADING.... a. Calculate Raconteurs' current ratio and acid-test (quick) ratio. b. Benchmark ratios for the current and acid-test (quick) ratio are 1.45 and 1.22, respectively. What can you say about the liquidity of Raconteur's operations based on these two ratios? a. Calculate Raconteurs' current ratio and acid-test (quick) ratio. Raconteurs' current ratio is Current assets Cash and marketable securities $9.9 Accounts receivable $40.6 Inventory $59.1 Total current...
Leven Company began operations on December 1, 2019. The following information is available for the company’s...
Leven Company began operations on December 1, 2019. The following information is available for the company’s merchandise inventory. A physical inventory taken on March 31, 2020, showed 3,000 units available. Leven uses a periodic inventory system. Date Units Unit Cost January 1, 2020 (beginning inventory) 1,600 $9.00 Purchases: January 5, 2020 3,000 10.00 January 25, 2020 2,400 10.50 February 16, 2020 1,200 12.00 March 26, 2020 1,800 13.00 Required a. Compute ending inventory and cost of goods sold for the...
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 Cost of goods sold Sales revenue 2020 $1,700 2,200 15,015 38,600 2021 $2,200 2,500 17,860 45,100 2022 $2,500 2,600 17,595 45,000 (a) 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 time e Textbook and Media
Current Attempt in Progress Suppose this information in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method. Beginning inventory S14,475 Ending inventory 13,699 LIFO reserve 1.286 Current assets 60.442 Current liabilities 64.300 Cost of goods sold 162.001 Sales revenue 166.218 ALLEMS. 1 OF 3 used Calculate the current ratio after adjusting for the LIFO reserve. (Round answer to 2 decimal places, es 5.12.) The...
Question 2 The following information is available for Hamm Company for 2020. Hamm uses the LIFO inventory method. Beginning inventory $600,000 Ending inventory 700,000 Beginning LIFO reserve 200,000 Ending LIFO reserve 300,000 Cost of goods sold 5,460,000 Sales 8,000,000 1. Calculate the inventory turnover ratio and days in inventory for Hamm Company based on LIFO. 2. Calculate the inventory turnover ratio and days in inventory after adjusting for the LIFO reserve.
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment Suppose it reported the following information in its 2022 annual report. in millions) 2022 2021 Inventories (LIFO) $2,397 3,042 Current assets 30,857 Current liabilities 12,753 LIFO reserve 1.367 Cost of goods sold 16,255 Compute Deere's inventory turnover for 2022. Round inventory turnover to 2 decimal places, s. 5.12.) Inventory turnover e Textbook and Media Compute Deere's days in inventory entory to decimal places. e. 50...
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 $608,500 719,000 205,000 298,000 5,859,075 7,961,000 Calculate the inventory turnover and days in inventory for Grouper Company based on LIFO. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover times Days in inventory days Calculate the inventory turnover and days in inventory after...
Analyzing Inventory Footnote Disclosure General Motors Corporation reported the following information in its 10-K report: Inventories at December 31 ($ millions) 2008 2007 Productive material, work in process, and supplies $4,849 $6,267 Finished product, service parts, etc. 9,426 10,095 Total inventories at FIFO 14,275 16,362 Less LIFO allowance (1,233) (1,423) Total automotive and other inventories, less allowances $13,042 $14,939 The company reports its inventory using the LIFO costing method during 2007 and 2008. a. At what dollar amount are inventories...
The following information is available for Wildhorse Co. and Pina Colada Corp.: (in millions) Wildhorse Co. 2022 2021 23 12 Pina Colada Corp. 2022 2021 0 28 520 475 515 540 Preferred dividends Net income Shares outstanding at the end of the year Shares outstanding at the beginning of the year 210 195 145 185 195 145 185 220 Based on this information, what is the amount of Wildhorse Co. earnings per share (rounded to two decimals) for 2022? O...
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 $1,700 2,200 15,015 38,600 2021 $2,200 2,500 17,860 45,100 2022 $2,500 2,600 17,595 45,000 (a) 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 time e Textbook and Media
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