Answered step by step
Verified Expert Solution
Question
1 Approved Answer
B74 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-6] Amazon com reported the following amounts its financial statement (in millions):
B74 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-6] Amazon com reported the following amounts its financial statement (in millions): 2010 2000 Net Sales $34,204 $24,509 Cost of Goods Sold 26,561 18,978 Beginning Inventory 2,171 1,399 Ending Inventory 3,202 2,171 Required: Determine the inventory turnover ratio and average days to set inventory for 2010 and 2009 (Use 365 days in a year. Round your intermediate and final answers to one decimal place.) 2010 2009 Inventory Turnover Ratio times per year times per year Average Days to Sell Inventory days days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started