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Exercise 9-23 The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1
Exercise 9-23 The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1 $1,642.6 Fiscal Year 2017 2016 Net sales $7,826.9 $8,664.1 Cost of goods sold 5,484.8 6,234.9 Net income 648.0 (665.9) Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round Inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell Inventory to o decimal places, e.g. 65.) times 2017 2016 (a) Inventory turnover times (b) Average days to sell inventory days Click if you would like to Show Work for this question: Open Show Work days
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