Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

15. i need help with this problem for my corporate finace class. It would be much appriected if you can show me how you got

15. i need help with this problem for my corporate finace class. It would be much appriected if you can show me how you got the work!
image text in transcribed
Happy Valley Homecare Suppliers, Incorporated (HVHS), had \$115 million in sales in 2015. Its cost of goods sold was $4.60 million, and its average inventory balance was $1.92 million a. Calculate the average number of days inventory outstanding ratios for HVHS. b. The average number of inventory days in the industry is 73 days. By how much must HVHS reduce its investment in inventory to improve its inventory days to meet the industry? (Hint: Use a 365-day year.) a. Calculate the number of days inventory outstanding ratios for HVHS The number of inventory days outstanding is days. (Round to two demical places.) b. The average number of inventory days in the industry is 73 days. By how much must HVHS reduce its investment in inventory to improve its inventory days to meet the industry? To match the industry average number of inventory days. HVHS would reduce its inventory by $ million. (Round to three decimal place.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Happy Retirement Fun Things To Do From Home Hobbies To Wild Freedom

Authors: Leon Simonds

1st Edition

979-8863179216

More Books

Students also viewed these Finance questions