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Please answer problem #9, SHOWING ALL WORK ACCORDINGLY ON PARTS. Thank you. The following information is available from the annual reports of Marigold and Sandra:
Please answer problem #9, SHOWING ALL WORK ACCORDINGLY ON PARTS. Thank you.
The following information is available from the annual reports of Marigold and Sandra: (Amounts in millions) Marigold Sandra 2022 ending Inventory $6,015 $4,835 2021 ending inventory 6,195 5,078 Cost of goods sold 25,641 31,473 Sales revenue 29.343 36.648 2022 LIFO reserve 226 2021 LIFO reserve 223 1 (a) Calculate the inventory turnover and days in inventory for both companies. (Round inventory tumover to 2 decimal places, eg. 15.25 and days in Inventory to 1 decimal place, eg. 15.2. Use 365 days for calculation) Marigold Sandra Inventory tumover times times Days in inventory days days Step by Step Solution
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