Selected financial statement data for Schmitzer Inc. is shown below: What was the amount of net sales
Question:
Selected financial statement data for Schmitzer Inc. is shown below:
What was the amount of net sales for2011?
2011 2010 Balance sheet nventories Ratio Gross profit ratio for 2011 Inventory turnover ratio for 2011 60,00048,000 40
Step by Step Answer:
Average inventory 60000 48000 2 54000 Cost of goods sold ...View the full answer
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Related Video
Inventory turnover is a key metric that helps businesses evaluate the efficiency of their operations. A high turnover ratio is generally considered positive, indicating that the company is effectively selling its inventory and making efficient use of its resources. On the other hand, a low turnover ratio may indicate issues such as overstocking or slow sales and may require further examination to identify and address the underlying causes. Businesses use this ratio to make decisions about inventory levels, production schedules, and pricing strategies. It also helps businesses to identify areas where they may need to make improvements, such as reducing lead times for production or optimizing sales and marketing efforts. Additionally, inventory turnover is used by investors and analysts as a key performance indicator to evaluate the financial health and growth potential of a company.
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