Last year, Esmeralda Company had net sales of $400,000,000 and cost of goods sold of $300,000,000. Esmeraldas
Question:
Last year, Esmeralda Company had net sales of $400,000,000 and cost of goods sold of $300,000,000. Esmeralda’s had the following balances:
Required:
1. Calculate the average inventory.
2. Calculate the inventory turnover ratio.
3. Calculate the inventory turnover in days.
4. Based on these ratios, does Esmeralda’s appear to be performing well or poorly?
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1 2 3 4 Esmeraldas inventory turnover ratio is 353 times which indicates that on average the company ...View the full answer
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ISBN: 9780357715345
8th Edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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