Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Now look at the financial sheets in this 1 0 K and calculate the Inventory Turnover. This might be a good indicator of how business

image text in transcribed
Now look at the financial sheets in this 10K and calculate the Inventory Turnover. This might be a good indicator of how business is doing, right?
Calculate the Inventory Turnover. You should find what you need in both the consolidated income statement page 38, called Cost of sales rather than COGS, and the consolidated balance sheet, page 37, where you will average the Merchandise inventories for 2021 and 2022.
How many times did Home Depot turn over their inventory in 2020 and in 2021?
Group of answer choices
.19 times in 2021 and .22 times in 2020
4.55 in 2021 and 5.25 in 2020
5.19 times in 2021 and 4.51 times in 2020
None of the above
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Governmental and Nonprofit Accounting Theory and Practice

Authors: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott

11th edition

133799565, 978-0133799569

More Books

Students also viewed these Accounting questions

Question

J dx (x+4)/ (x-3) 41

Answered: 1 week ago