Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The income statement of Walmart reports net sales of $495,761 million and cost of goods sold of $373,396 million for the year ended January 31,
The income statement of Walmart reports net sales of $495,761 million and cost of goods sold of $373,396 million for the year ended January 31, 2018. The comparable sales and cost of goods sold figures for the year ended one year earlier were $481, 317 million and $361,256 million, respectively. As you would expect, to be able to achieve this high level of sales, a great deal of inventory must be maintained so the customers will find what they to buy when they shop in Walmart stores. In fact, in January 31, 2018, balance sheet, inventory is presented at 443,783 million and the comparable figure for a year earlier is $43,046 million. a. Using the year-end inventory figures, compute the inventory for Walmart for both years. b. Compute the average number of days required by Walmart to sell its investment for the same years. c. In which year was the company more efficient its management of inventory? Explain your
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