Question
The financial statements of ConAgra Foods, Inc. s 2017 annual report disclose the following information. (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1 $1,642.6
The financial statements of ConAgra Foods, Inc.s 2017 annual report disclose the following information.
(in millions) | 2017 | 2016 | 2015 | |||
---|---|---|---|---|---|---|
Year-end inventories | $934.2 | $1,044.1 | $1,642.6 | |||
Fiscal Year | ||||||
2017 | 2016 | |||||
Net sales | $7,826.9 | $8,664.1 | ||||
Cost of goods sold | 5,484.8 | 6,234.9 | ||||
Net income | 648.0 | (665.9) |
Compute ConAgras (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, e.g. 65.)
2017 | 2016 | |||||||
---|---|---|---|---|---|---|---|---|
(a) | Inventory turnover | enter the inventory turnover rounded to 1 decimal place | times | enter the inventory turnover rounded to 1 decimal place | times | |||
(b) | Average days to sell inventory | enter the average days to sell inventory rounded to 0 decimal places | days | enter the average days to sell inventory rounded to 0 decimal places | days |
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