Question
The financial statements of ConAgra Foods, Inc. 's 2014 annual report disclose the following information. (in millions)2014 2013 2012 Year-end inventories$2,201$2,077 $2,341 Fiscal Year 2014
The financial statements ofConAgra Foods, Inc.'s 2014 annual report disclose the following information.
(in millions)2014
2013
2012
Year-end inventories$2,201$2,077
$2,341
Fiscal Year
2014
2013
Net sales$17,703
$15,427Cost of goods sold13,98011,864Net income315786
Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2014 and 2013.(Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, e.g. 65.)
2014
2013
(a)Inventory turnover
times
times(b)Average days to sell inventory
days
days
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