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Given the following information for Costco Wholesale Corporation for the year 2023: Item Amount ($) Sales 3,000,000 Net Income 450,000 Total Assets 6,000,000 Total Liabilities
Given the following information for Costco Wholesale Corporation for the year 2023:
Item | Amount ($) |
Sales | 3,000,000 |
Net Income | 450,000 |
Total Assets | 6,000,000 |
Total Liabilities | 2,000,000 |
Shareholders' Equity | 4,000,000 |
Cost of Goods Sold | 1,800,000 |
Inventory | 300,000 |
Accounts Receivable | 150,000 |
Accounts Payable | 100,000 |
Requirements:
- Calculate the Inventory Turnover Ratio.
- Determine the Receivables Collection Period.
- Compute the Accounts Payable Turnover.
- Analyze the company's liquidity position.
- Calculate the Asset Turnover Ratio.
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