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Use the following information for Concord Corporation, Oriole Company, Bramble Industries, and Evans Services to answer the question Using LIFO, what is Concord's inventory turnover
Use the following information for Concord Corporation, Oriole Company, Bramble Industries, and Evans Services to answer the question "Using LIFO, what is Concord's inventory turnover for 2022 (to the closest decimal place)?" (amounts in $ millions) Concord Oriole Bramble Evans Inventory Method for 2021 & 2022 LIFO FIFO LIFO FIFO 2021 Ending inventory assuming LIFO $304 0 $247 0 2021 Ending inventory assuming FIFO $447 $525 $298 $685 2022 Ending inventory assuming LIFO $4420 $167 2022 Ending inventory assuming FIFO $562 $626 $201 $542 2021 Current assets (reported on balance sheet) $1675 $2035 $1302 $2754 2021 Current liabilies $985 $1187 $569 $1198 2022 Current assets (reported on balance sheet) $2239 $2609 $1100 $2370 2022 Current liabilities $1306 $1388 $485 $984 INN 2022 Cost of goods sold $4678 $5022 $2992 $7012 6.6 times 9.3 times 12.5 times 7.7 times
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