Question
A recent annual report of Kraft Foods Group, Inc., reveals the following information (dollar amounts are stated in millions). Cost of goods sold $ 13,360
A recent annual report of Kraft Foods Group, Inc., reveals the following information (dollar amounts are stated in millions).
Cost of goods sold $ 13,360
Inventory (beginning of year) $ 1,616
Inventory (end of year) $ 1,775
Average time required to collect accounts receivable 17 days
a. Compute Kraft Food Group, Inc.'s inventory turnover for the year. (Round your answer to 1 decimal place.)
b. Compute the number of days required to sell its average inventory. (Use 365 days in a year. Round your answer to the nearest whole number.)
c. What is the length of Kraft's operating cycle? (Round your answer to the nearest whole number.)
a. Inventory turnover | ____ days
b. number of days | ___ days
c.length of operating cycle | ____ days
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