Question
The following information was obtained from the fiscal year 2012 & 2011 financial statements included in Form 10-K of Kellogg Company & Subsidiaries & General
The following information was obtained from the fiscal year 2012 & 2011 financial statements included in Form 10-K of Kellogg Company & Subsidiaries &General Mills, Inc. & Subsidiaries. (Year-ends for Kelloggs are December 29, 2012, & December 31, 2011 & for General Mills are May 27, 2012, & May 29, 2011.) Assume all sales are on credit for both companies.
Using the information provided, compute the following for each company for 2012:
Required: Round your intermediate calculations & FINAL ANSWERS to one decimal place. Assume a 360-day year.
Note: here are additional screenshots of the answers Ive tried, Im not sure what Im supposed to input
Kelloggs
Accounts receivable turnover ratio: 10.8 times
Number of days' sales in receivables: _____days (its NOT 33 or 34)
Inventory turnover ratio: 6.9 times
Number of days' sales in inventory: _____days (its NOT 52 or 53)
Cash-to-cash operating cycle: _____days (its NOT 85 or 87)
General Mills
Accounts receivable turnover ratio: 13.4 times
Number of days' sales in receivables: 27 days
Inventory turnover ratio: 6.9 times
Number of days' sales in inventory: _____days (its NOT 52 or 53)
Cash-to-cash operating cycle: 79 days
in millions) Accounts receivable, neta Inventories Net sales Cost of goods sold Kellogg's General Mills End of 2012 End of 2011 End of 2012 End of 2011 2012 2011 2012 2011 1,454 1,188 1,365 1,174 14,197 13,198 8,763 8,046 S 1,323.6 1,162.3 1,478.8 1,609.3 16,657.9 14,880.2 10,613.2 8,926.7 Described as "receivables" by General Mills. Described as "cost of sales" by General Mills
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started