Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bookmarks Aegis Industries Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions) 201 12

image text in transcribed
Bookmarks Aegis Industries Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions) 201 12 2011 2010 2009 Net Sales Revenue 4,900 4,360 $ 3,690 $3,270 Cost of Goods Sold 4,290 3,810 3,290 2,870 Average Inventory 490 440 380 370 Required: 1-a. Calculate the inventory turnover ratio for 2012, 2011, and 2010. (Round your answers to 1 decimal place.) Times per Year 2011 2012 2010 Inventory Turnover Ratio 1-b. 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.) Days 2011 2012 2010 Average Days to Sell Inventory 2. Is Aegis performing better than its competitor Sabertooth where the inventory turmed over is 7.1 times in 2012 (51.4 days to sell). Both companies use the same inventory costing method (FIFO) O Yes No esc FI FS F6 1

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

Accounting For Managers Text And Cases

Authors: William J. Bruns

3rd Edition

0324291213, 978-0324291216

More Books

Students also viewed these Accounting questions

Question

Describe recruitment and selection for international operations.

Answered: 1 week ago