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A recent annual report of the Kraft Heinz Company reveals the following information (dollar amount s in millions). Cost of goods sold..................................................................$16,529 Inventory (beginning of
A recent annual report of the Kraft Heinz Company reveals the following information (dollar amount s 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 Heinz's inventory turnover for the year (round to nearest tenth). b. Compute the number of days required to sell its average inventory (round to the nearest day) c. What is the length of Kraft Heinz's operating cycle? d What comparative information would you want to be able to evaluate Kraft Heinz's operating cycle figure
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