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Hello I just want to make sure that these answers are correct. Please let me know if they are wrong. Thank you! Omni, Inc. presents

Hello I just want to make sure that these answers are correct. Please let me know if they are wrong. Thank you!

Omni, Inc. presents the following data for December 31, 2018. (Question #3)

Inventories, beginning of year

$855,500

Inventories, end of year

674,800

Cost of Goods Sold

4,580,000

Net Sales

7,525,600

3. The inventory turnover in days (use average inventory) is:

a.53.8

b.61.0

c.56.1

d. 32.7

e.37.1

Avg. Inventory = Beg. Inv. + Ending Inv. / 2 = $855,500 + $674,800/ 2 = $765,150

Inventory Turnover = COGS/ AVG. Inventories = $4,580,000 / $765,150 = 5.99

Inventory Turnover in days = Avg. Inv./ (COGS / 365) = $765,150 / ($4,580,000/365) = 60.97 or 61

7.Pepsico presents the following data for the year ended December 31, 2018 (millions).

Receivables, net, beginning of year

Receivables, net, end of year

$7,024

7,142

Net Sales

64,661

Cost of Goods Sold

29,381

Allowance for Doubtful Accounts = $129M, Beginning of year and $101M, end of year.

The days' sales in receivables (ACP) using 365 days is:

a.40.1

b.81.3

c.41.1

d.40.9

e. 40.4

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