Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please very fast ans please Consider a firm with net income of $160 million, revenue of $420 million, and cost of goods sold of $175

please very fast ans please

Consider a firm with net income of $160 million, revenue of $420 million, and cost of goods sold of $175 million.

a) If the balance sheet shows $16 million of inventory,what is the firm's inventory turnover?

b) Assuming that they operate 52 weeks a year, what is the firm's weeks of supply?

c) Within the firm's industry, theaverage turnover is 12 turns per year. Is the firm's performance better or worse than the industry average?

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

Comparative International Accounting

Authors: Christopher Nobes, Robert Parker

13th edition

1292081902, 1292081908, 9781292081960 , 1292081961, 978-1292081908

More Books

Students also viewed these Accounting questions