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The financial statements of ConAgra Foods, Inc.s recent annual report disclose the following information. (in millions Current Year Prior Year Year-end-inventories $934.2 $1,044.1 Net sales
The financial statements of ConAgra Foods, Inc.s recent annual report disclose the following information.
(in millions | Current Year | Prior Year |
Year-end-inventories | $934.2 | $1,044.1 |
Net sales | 7,826.9 | 8,664.1 |
Cost of goods sold | 5,484.8 | 6,234.9 |
Net income | 648.0 | (665.9) |
Instructions
Compute ConAgras (a) inventory turnover (inventory at the beginning of the prior year was $1,642.6)and (b) the average days to sell inventory for the current and prior years.
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