Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the period ending December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley, Inc.: ending inventory $155,000,

For the period ending December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley, Inc.: ending inventory $155,000, beginning inventory $120,000, cost of goods sold $350,625, and sales revenue $760,000. Calculate the inventory turnover and days in inventory for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 15.25 and days in inventory to O decimal places, e.g. 15. Use 365 days for calculation.) Inventory turnover Days in inventory times days
image text in transcribed
For the period ending December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oaktey, inc: ending inventory $155,000, beginning imventory $120,000, cost of goods sold $350,625, and sales revenue $760,000. Calcutate the inventory turnover and days in inventory for Oakley, Inc. (Round inventory turnover to 2 decimal ploces, es. 15.25 and days in inventory to 0 decimal places, es. 15. Use 365 days for calculation.) Inventory turnover times Days in inventory days

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

Patient Centered Audit

Authors: Kruse

1st Edition

0875272479, 978-0875272474

More Books

Students also viewed these Accounting questions

Question

give three examples of local restaurants using prospect theory

Answered: 1 week ago