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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
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 8,664.11 Cost of goods sold 5,484.8 6,234.9 Net income 648.0 (665.9) Compute ConAgra's (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. Assume a year has 365 days. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, e.g. 65.) (a) Inventory turnover (b) Average days to sell inventory Current Year times days Prior Year times days
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