Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aegis Industries Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2012 2011 2010

image text in transcribed
Aegis Industries Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2012 2011 2010 2009 Net Sales Revenue Cost of Goods Sold Average Inventory $ 3,400 S 2,860 $ 2,190$1,770 2,480 2,100 1,660 1,370 230 220 340 290 Required 1 Calculate the inventory turnover ratio for 2012, 2011, and 2010. (Round your answers to 1 decimal place.) 2012 2011 2010 Inventory Turnover Ratio 1. Calculate the average days to sell inventory for 2012, 2011 and 2010. (Use 365 days in a year. Use rounded "Inventory Turnover Ratio" and round your answers to 1 decimal place.) 2012 2011 2010 Average Days to Sell Inventory Is Aegis performing better than its competitor Sabertooth where the inventory turned over is 5.6 times in 2012 (65.2 days to sell). Both companies use the same inventory costing method (FIFO). O No

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

An Introduction To Business Accounts

Authors: John Harrison, Ron Dawber

1st Edition

9780273019954

More Books

Students also viewed these Accounting questions

Question

In what ways do personal and social media change how we think?

Answered: 1 week ago

Question

How do virtual communities diff er from physical communities?

Answered: 1 week ago