A recent annual report of Kraft Foods Group, Inc., reveals the following information (dollar amounts are stated in millions).
Cost of goods sold........................................................................................$13,360
Inventory (beginning of year) ..........................................................................1,616
Inventory (end of year) ....................................................................................1,775
Average time required to collect accounts receivable ..................................17 days
a. Compute Kraft Food Group, Inc.'s inventory turnover for the year (round to nearest tenth).
b. Compute the number of days required to sell its average inventory (round to the nearest day).
c. What is the length of Kraft's operating cycle?
d. What comparative information would you want to be able to evaluate Kraft's operating cycle figure?