Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

20. Andropov Suppliers Limited had $11 million in sales in 2016. Its cost of goods sold was $4.4 million, and its average inventory balance was

image text in transcribed
20. Andropov Suppliers Limited had $11 million in sales in 2016. Its cost of goods sold was $4.4 million, and its average inventory balance was $2.1 million. a. Calculate the number of days inventory outstanding ratios for Andropov. b. The average number of inventory days in the industry is 73 days. By how much must Andropov reduce its investment in inventory to improve its inventory days to meet the industry? (Hint: Use a 365-day year.)

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

International Finance Theory and Policy

Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz

10th edition

978-0133425895, 133425894, 978-0133423631, 133423638, 978-0133423648

More Books

Students also viewed these Finance questions

Question

What are the major medium of communication ?

Answered: 1 week ago

Question

Family basic steps to socialization write a short note ?

Answered: 1 week ago