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Problem 6-7A (Part Level Submission) Suppose this information (in millions) Is available for the Automotive and other Operations Divisions of General Motors Corporation for a
Problem 6-7A (Part Level Submission) Suppose this information (in millions) Is available for the Automotive and other Operations Divisions of General Motors Corporation for a recent year. General Motors Corporation uses the LIFO inventory method. Beginning inventory $14,806 Ending inventory LIFO reserve Current assets Current liabilities Cost of goods sold182,555 Sales revenue 15,074 1,366 57,758 74,890 194,811 (a) Your answer is correct. Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal The inventory turnover12.22 times 29.87 days Days in inventory SHOW LIST OF ACC LINK TO TEXT 21 1O 88 F6 F7
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