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PROBLEM 4 (10 points) Stella Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in
PROBLEM 4 (10 points) Stella Inc. is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2012 2013 2014 Net Sales Revenue $3,200 $3,780 $ 4,480 2015 $4,720 Cost of Goods Sold $ 2,280 $2,660 $3,160 $3,380 Average Inventory 320 380 490 640 Required: 1. Calculate the inventory turnover ratio for 2015, 2014, and 2013. Calculate the average days to sell inventory for 2015, 2014, and 2013. 2. Answer:
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
