Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses
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Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley, Inc.: ending inventory $155,377, beginning to inventory $119,035, cost of goods sold $349,114, and sales revenue $761,865. Calculate the inventory turnover and days in inventory for Oakley, Inc.
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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