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 Inventory
The 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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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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