Question
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands): 2016 2015 Cost of sales $1,517,397 $1,529,527
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands):
|
| 2016 | 2015 |
| Cost of sales | $1,517,397 | $1,529,527 |
| Inventories, net | 585,764 | 546,745 |
| LIFO reserve | 4,345 | 4,094 |
The 2016 average days inventory outstanding is:
Select one:
A. 136.2 days
B. 133.9 days
C. 121.5 days
D. 49.6 days
E. None of the above
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
Cases in Financial Reporting
Authors: Michael J. Sandretto
1st edition
538476796, 978-0538476799
