Go to Connect for the financial statements of RONA Inc. 1. How much inventory does the company

Question:

Go to Connect for the of RONA Inc.
1. How much inventory does the company own at the end of the current year?
2. Estimate the amount of inventory that the company purchased during the current year.
3. What method does the company use to determine the cost of its inventory?
4. Compute the for the current year. What does an tell you?
5. What was the change in inventory? How did it affect net cash provided by operating activities for the current year? Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...