SUPERVALU reported the following data in its annual report. (a) Compute SUPERVALU's inventory turnover ratio s for
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SUPERVALU reported the following data in its annual report.
(a) Compute SUPERVALU's inventory turnover ratios for 2009 and 2010, using:(1) Cost of sales and LIFO inventory.(2) Cost of sales and FIFO inventory.(b) Some firms calculate inventory turnover using sales rather than cost of goods sold in the numerator. Calculate SUPERVALU's 2009 and 2010 turnover, using:(1) Sales and LIFO inventory.(2) Sales and FIFO inventory.(c) Describe the method that SUPERVALU's appears to use.
Inventory Turnover RatioInventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...
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Feb 23 Feb 28 Feb 27 2008 2009 2010 Revenues 44048 44564 40597 Cost of sales 33943 34451 ...View the full answer
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