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Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug.
Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions)
2013 | 2012 | |||
Net Sales | $ | 6,000 | $ | 6,060 |
Cost of Goods Sold | 4,900 | 4,700 | ||
Beginning Inventory | 550 | 470 | ||
Ending Inventory | 660 | 550 | ||
Required: | |
1. | Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) |
20132012 Inventory Turnover Ratiotimes per yeartimes per year Days to Selldaysdays |
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