The following information for Valdez Industries was taken from the company's financial statements (amounts in thousands). Instructions:

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The following information for Valdez Industries was taken from the company's financial statements (amounts in thousands).

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Instructions:
1 . Compute the inventory turnover and the number of days' sales in inventory for the years 2000-2002. Use average inventory in your calculations.
2. Evaluate Valdezs inventorv turnover trend.

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Intermediate Accounting

ISBN: 9780324013078

14th Edition

Authors: Fred Skousen, James Stice, Earl Kay Stice

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Question Posted: May 27, 2024 03:06 AM

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The following information for Valdez Industries was taken from the company's financial statements (amounts in thousands). Instructions:

Question:

2002 2001 2000 1999 Sales $24,000 $18,000 $15,000 $12,000 Cost of goods sold 19,600 13,900 10,200 7,200 Inventory 1,400 1,200 910 750 Accounts receivable 3,900 3,600 4,100 3,200 Accounts payable. Net income... 2,300 1,200 1,500 1,800 560 320 510 430

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Intermediate Accounting

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