Question
Lockheed Martins 2013 financial statements include the following : (millions) 2013 2012 Sales $45,358 $47,182 COGS 32,500 31,200 Accounts receivable 5,834 6,563 Inventory 2,977 2,937
Lockheed Martins 2013 financial statements include the following :
| (millions) | 2013 | 2012 |
| Sales | $45,358 | $47,182 |
| COGS | 32,500 | 31,200 |
| Accounts receivable | 5,834 | 6,563 |
| Inventory | 2,977 | 2,937 |
Project accounts receivable, and inventory for 2014 given that sales are expected to grow by 2% in 2014 (Use the turnover ratio method to forecast Account Receivable and Inventory).
PLEASE SHOW WORK!!!!
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Auditing And Assurance Services A Systematic Approach
Authors: William Messier, Steven Glover, Douglas Prawitt
12th Edition
