Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

In fiscal year 2000, Roebucks Corp reported a cost of goods sold of $8527 million and average inventory valued at $1,529.4 million. a. On average,

In fiscal year 2000, Roebucks Corp reported a cost of goods sold of $8527 million and average inventory valued at $1,529.4 million.

a. On average, how many weeks of inventory did Roebucks maintain to generate its sales in 2019?

b. What was Roebucks annual inventory turnover in 2019?

(Please provide Excel functions)

Use the attached table to determine (there's no actual data from 2019- its hypothetical)

image text in transcribed

The Cumulative Standardized Normal Distribution (Extract from Table E.2, p.546 of Text) 0.07 0.0192 Z -2.0 -1.9 -1.8 -1.7 -1.6 -1.5 -1.4 -1.3 -1.2 -1.1 -1.0 -0.9 -0.8 -0.7 -0.6 -0.5 -0.4 0.00 0.0228 0.0287 0.03591 0.0446 0.0548 0.0668 0.0808 0.0968 0.1151 0.1357 0.1587 0.1841 0.2119 0.2420 0.2743 0.30851 0.34461 0.3821 0.4207 0.4602 0.5000 0.01 0.0222 0.0281 0.0351 0.0436 0.0537 0.0655 0.0793 0.0951 0.1131 0.1335 0.1562 0.1814 0.2090 0.2389 0.2709 0.3050 0.3409 0.3783 0.4168 0.4562 0.4960 0.02 0.0217 0.02741 0.0344 0.0427 0.0526 0.06431 0.07781 0.0934 0.1112 0.1314 0.15391 0.1788 0.2061 0.23581 0.26761 0.30151 0.33721 0.3745 0.4129 0.4522 0.4920 0.03 0.0212 0.0268 0.0336 0.0418 0.0516 0.0630 0.0764 0.0918 0.1093 0.1292 0.1515 0.1762 0.2033 0.2327 0.2643 0.2981 0.3336 0.3707 0.4090 0.4483 0.4880 0.04 0.0207 0.0262 0.03291 0.04091 0.0505 0.0618 0.0749 0.0901 0.1075 0.1271 0.1492 0.1736 0.2005 0.2296 0.2611 0.2946 0.3300 0.3669 0.4052 0.4443 0.4840 0.05 0.0202 0.0256 0.0322 0.0401 0.0495 0.0606 0.0735 0.08851 0.1056 0.1251 0.1469 0.1711 0.1977 0.2266 0.25781 0.29121 0.3264 0.3632 0.4013 0.4404 0.4801 0.06 0.0197 0.0250 0.0314 0.0392 0.0485 0.0594 0.0721 0.08691 0.10381 0.1230 0.1446 0.1685 0.19491 0.2236 0.2546 0.2877 0.3228 0.3594 0.3974 0.4364 0.4761 0.0244 0.0307 0.03841 0.0475 0.0582 0.0708 0.0853 0.1020 0.1210 0.14231 0.1660 0.1922 0.2206 0.2514 0.2843 0.3192 0.3557 0.3936 0.4325 0.4721 0.08 0.0188 0.0239 0.0301 0.0375 0.0465 0.0571 0.0694 0.0838 0.1003 0.1190 0.1401 0.1635 0.1894 0.2177 0.24831 0.2810 0.3156 0.35201 0.3897 0.4286 0.4681 0.09 0.0183 0.0233 0.0294 0.0367 0.0455 0.0559 0.0681 0.0823 0.0985 0.1170 0.1379 0.1611 0.1867 0.2148 0.2451 0.2776 0.3121 0.34831 0.3859 0.4247 0.4641 -0.3 -0.2 -0.1 -0.0 The Cumulative Standardized Normal Distribution (Extract from Table E.2, p.547 of Text) 0.04 Z 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 0.00 0.5000 0.5398 0.5793 0.6179 0.6554 0.6915 0.7257 0.7580 0.7881 0.8159 0.8413 0.8643 0.8849 0.9032 0.9192 0.9332 0.9452 0.9554 0.9641 0.9713 0.97721 0.01 0.5040 0.5438 0.5832 0.62171 0.6591 0.6950 0.7291 0.7611 0.7910 0.8186 0.8438 0.8665 0.8869 0.9049 0.9207 0.9345 0.9463 0.9564 0.9649 0.9719 0.97781 0.02 0.5080 0.5478 0.58711 0.6255 0.6628 0.6985 0.7324 0.76421 0.7939 0.8212 0.8461 0.8686 0.8888 0.90661 0.92221 0.9357 0.9474 0.95731 0.9656 0.97261 0.97831 0.03 0.51201 0.5517 0.5910 0.6293 0.6664 0.7019 0.7357 0.7673 0.7967 0.8238 0.8485 0.8708 0.8907 0.9082 0.9236 0.9370 0.9484 0.9582 0.9664 0.9732 0.9788 0.5160 0.5557 0.5948 0.63311 0.67001 0.7054 0.7389 0.77041 0.7995 0.82641 0.8508 0.8729 0.8925 0.90991 0.9251 0.9382 0.9495 0.9591 0.9671 0.97381 0.97931 0.05 0.5199 0.5596 0.5987 0.63681 0.6736 0.7088 0.7422 0.7734 0.8023 0.8289 0.8531 0.8749 0.8944 0.9115 0.9265 0.9394 0.9505 0.9599 0.9678 0.9744 0.9798 0.06 0.5239 0.5636 0.60261 0.6406 0.67721 0.7123 0.7454 0.77641 0.8051 0.8315 0.8554 0.8770 0.8962) 0.9131 0.9279 0.94061 0.9515 0.9608 0.9686 0.9750 0.9803 0.07 0.5279 0.56751 0.60641 0.6443 0.6808 0.7157 0.7486 0.7794 0.8078 0.8340 0.8577 0.87901 0.8980 0.9147 0.9292 0.9418 0.9525 0.9616 0.9693 0.9756 0.98081 0.08 0.5319 0.5714 0.61031 0.6480 0.6844 0.7190 0.7517 0.7823 0.8106 0.8365 0.8599 0.8810 0.8997 0.9162 0.9306 0.9429 0.9535 0.9625 0.96991 0.9761 0.9812 0.09 0.5359 0.5753 0.6141 0.6517 0.6879 0.72241 0.7549 0.7852 0.8133 0.8389 0.8621 0.8830 0.9015 0.9177 0.9319 0.9441 0.9545 0.96331 0.9706 0.9767 0.9817 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial and managerial accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

1st edition

978-1118016114

Students also viewed these Finance questions

Question

What are the attributes of a technical decision?

Answered: 1 week ago

Question

How do the two components of this theory work together?

Answered: 1 week ago