Question
Large Company Net sales $ 40,000 Cost of sales $ 32,500 Gross profit $ 7,510 Selling, general, and administrative expenses $ 6,280 Operating income $
Large Company
Net sales
$ 40,000 Cost of sales
$ 32,500 Gross profit
$ 7,510 Selling, general, and administrative expenses
$ 6,280 Operating income
$ 1,230 Net income
$ 840 Cash and cash equivalents
$ 8,700 Net receivables
$ 350 Inventories
$ 3,330 Total current assets
$ 12,590 Property and equipment
$ 790 Other assets
$ 1,210 Total assets
$ 14,590 Accounts payable
$ 11,620 Stockholder equity
$ 1,410
Large Company | |
Net sales | $ 40,000 |
Cost of sales | $ 32,500 |
Gross profit | $ 7,510 |
Selling, general, and administrative expenses | $ 6,280 |
Operating income | $ 1,230 |
Net income | $ 840 |
Cash and cash equivalents | $ 8,700 |
Net receivables | $ 350 |
Inventories | $ 3,330 |
Total current assets | $ 12,590 |
Property and equipment | $ 790 |
Other assets | $ 1,210 |
Total assets | $ 14,590 |
Accounts payable | $ 11,620 |
Stockholder equity | $ 1,410 |
What is the value of Inventory Turnover(INVT)? (Choose the closest)
0.73
1.18
2.53
9.76
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie Miller-Nobles, Brenda Mattison, Ella Mae Matsumura
7th Global Edition
1292412321, 9781292412320
