answer a, b, & c.
The asset side of the 2019 balance sheet for Katy Vineyards is below. The company reported cost of goods sold of S7 204,884 in 2019 and 57.082.111 in 2018 Use the information to answer the requirements 2018 Katy Vineyards Balance Sheet(xcoros) December 31 2019 Current assets Cash and cash equivalents $ 5.706.351 Restricted cash Accounts receive not 1,871,450 Inventories 11,970 656 Prepaid expenses & other current assets 309 740 Income tax recevable 0 Total current a s 19.908 197 Investment in Kore Wine Company 59,186 Vineyard development costs net 5606794 Property and equipment, net 2016 $45 871 122 $ 4010 684 1476 232 1684 502 10.632.452 131 173 204513 18 19 50,000 360947 15.729.162 S .628 0.55 2018 454 612 S Note 3 to the financial statement reports that Inventories consist of Katy Vineyards Inventories 12 months ended December 31 December 31 2019 Winemaking and packaging materials $ 817 836 Work-in-process (costs relating to unprocessed and/or unbottled wine products) 6,634014 Finished goods (bottled wine and related products) 4,518 806 Current inventories S11 970 656 6 058 701 3.883 469 S10 632 462 Required Explain in layman's terms what each of the three types of inventories comprises Compute average days inventory outstanding for both years and interpret any change. At December 31, 2017 Total inventones net were $ 9.910 570 What does this ratio mean? Is the year over year change good nows? It is typical in the winemaking industry for wino to stay in process for more than a year How is such inventory classified in the company's balance sheet? The asset side of the 2019 balance sheet for Katy Vineyards is below. The company reported cost of goods sold of S7 204,884 in 2019 and 57.082.111 in 2018 Use the information to answer the requirements 2018 Katy Vineyards Balance Sheet(xcoros) December 31 2019 Current assets Cash and cash equivalents $ 5.706.351 Restricted cash Accounts receive not 1,871,450 Inventories 11,970 656 Prepaid expenses & other current assets 309 740 Income tax recevable 0 Total current a s 19.908 197 Investment in Kore Wine Company 59,186 Vineyard development costs net 5606794 Property and equipment, net 2016 $45 871 122 $ 4010 684 1476 232 1684 502 10.632.452 131 173 204513 18 19 50,000 360947 15.729.162 S .628 0.55 2018 454 612 S Note 3 to the financial statement reports that Inventories consist of Katy Vineyards Inventories 12 months ended December 31 December 31 2019 Winemaking and packaging materials $ 817 836 Work-in-process (costs relating to unprocessed and/or unbottled wine products) 6,634014 Finished goods (bottled wine and related products) 4,518 806 Current inventories S11 970 656 6 058 701 3.883 469 S10 632 462 Required Explain in layman's terms what each of the three types of inventories comprises Compute average days inventory outstanding for both years and interpret any change. At December 31, 2017 Total inventones net were $ 9.910 570 What does this ratio mean? Is the year over year change good nows? It is typical in the winemaking industry for wino to stay in process for more than a year How is such inventory classified in the company's balance sheet
