Sony Ericsson competes with Nokia Corporation in manufacturing and selling cell phones directly to mobile telecommunications service suppliers. The company reported the following amounts for 2008 (in millions of Swedish krona).

Required:
1. Determine the inventory turnover ratio and the average days to sell inventory for the current year.
2. Explain the meaning of each of the amounts computed in (1).

Transcribed Image Text:

Not sales revenue 208,930 Cost of sales 134,661 Beginning inventory 22,475 Ending inventory 27,836