2017 | 2016 | |
---|---|---|
Inventory Turnover |
= 5484.8/[(934.2+1044.1)/2] = 5.5 times |
= 6234.9/[(1044.1+1642.6)/2] = 4.6 times |
Days to sell |
= 365/5.5 = 66 days |
= 365/4.6 = 79 days |
Comment if you face any issues
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) 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) 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 $9342 $1,044.1 $1.6426 Fiscal Year 2017 2016 Net sales $7.826.9 $8.6641 5.4848 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, es. 7.6 and average days to sell Inventory to decimal places, s. 65.) 2017...
The 2017 Annual Report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Compute the following ratios for Tootsie Roll for 2017. (a) Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.) enter the asset turnover rounded to 4 decimal places ?times (b) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.) enter...
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...
Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company. 2017 2016 $ 3,426 3,400 (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 26 $ 4,342 4,238 104 34,375 7,062 37,658 6,532 Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5....
Exercise 8-14 (Part Level Submission)
Suppose the following information was taken from the 2017 financial
statements of FedEx Corporation, a major global
transportation/delivery company.
(in millions)
2017
2016
Accounts receivable (gross)
$ 3,852
$ 4,692
Accounts receivable (net)
3,425
4,599
Allowance for doubtful accounts
427
93
Sales revenue
33,684
36,359
Total current assets
7,758
7,628
Answer each of the following questions.
(a)
Your answer is incorrect. Try again.
Calculate the accounts receivable turnover and the average
collection period for 2017...