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Please answer Questions 10 and 11 in excel format with the formulas showing. Screenshots work perfectly! Annual Usage (in units) Unit Cost (in U.S. dollars)
Please answer Questions 10 and 11 in excel format with the formulas showing. Screenshots work perfectly!
Annual Usage (in units) Unit Cost (in U.S. dollars) Item 6,000 1.4 1 1,500 10 2 3 11,000 9.5 4 6,500 2.5 5 8,500 0.6 6 7,000 14.5 7 6,000 0.8 8 5,500 1.2 9 8,000 3.5 10 4,000 2.5 9. The financial statements of mythical Reliance Inc. show that in 2012, its beginning inventory balance was $31.82 billion and ending inventory balance was $30.25 billion. The company's cost of goods sold was reported as $290.70 billion (all in U.S. dollars). Calculate the company's inventory turnover ratio for 2012. 10. Refer to Problem 9. What is Reliance Inc.'s days of inventory in stock if, in 2013, the company's beginning inventory balance was $30.25 billion, its ending inventory balance was $29.12 billion, and the cost of goods sold was $272.22 billion (again in U.S. dollars)? 11. Hick's Furniture Company (not a real company) sells industrial furniture for office buildings. During the current year, the company reported cost of goods sold on its income statement of $1,650,000. The company's beginning inventory was $2,750,000, and its ending inventory was $3,825,000 (all in U.S. dollars). What is the company's inventory turnover ratio for the current year? RoforteStep by Step Solution
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