Question
A recent annual report of the Kraft Heinz Company reveals the following information (dollar amounts are stated in millions). Cost of goods sold $ 16,529
A recent annual report of the Kraft Heinz Company reveals the following information (dollar amounts are stated in millions).
Cost of goods sold | $ | 16,529 | |
Inventory (beginning of year) | $ | 2,684 | |
Inventory (end of year) | $ | 2,815 | |
Average time required to collect accounts receivable | 31 | days | |
a. Compute Kraft Heinzs inventory turnover for the year. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b. Compute the number of days required to sell its average inventory. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to the nearest whole number.)
c. What is the length of Kraft Heinzs operating cycle? (Do not round intermediate calculations. Round your answer to the nearest whole number.)
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