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The Home Depot, Inc., financial statements appear in Appendix A. Using figures from the income statement and balance sheet, answer the following questions. a. What
The Home Depot, Inc., financial statements appear in Appendix A. Using figures from the income statement and balance sheet, answer the following questions. a. What was the company's inventory turnover for the most recent year reported? b. Using your answer from part a, what was the average number of days that merchandise remained in inventory before it was sold? c. Is the company's operating cycle influenced significantly by its accounts receivable turnover rate? Complete this question by entering your answers in the tabs below. Required A Required B Required C What was the company's inventory turnover for the most recent year reported? (Round your answer to 2 decimal places.) Inventory turnover rate times Required A Required B > The Home Depot, Inc., financial statements appear in Appendix A. Using figures from the income statement and balance sheet, answer the following questions. a. What was the company's inventory turnover for the most recent year reported? b. Using your answer from part a, what was the average number of days that merchandise remained in inventory before it was sold? c. Is the company's operating cycle influenced significantly by its accounts receivable turnover rate? Complete this question by entering your answers in the tabs below. Required A Required B Required C. Using your answer from part a, what was the average number of days that merchandise remained in inventory before it was sold? (Use 365 days in a year. Do not round intermediate calculations. Round your final answer to 1 decimal place. (i.e. .1234 to be entered as 12.3)) Average days in inventory days
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