A recent annual report of Kraft Foods, Inc., reveals the following information (dollar amounts are stated in millions):
- Cost of goods sold- $24,651
- Inventory (begining year)- $3,506
- Inventory end of year- $4,096
- average time to collect receivables- 45 days
1.Compute Kraft's inventory turnover for the year?
2.Compute the number of days required by Kraft to sell its average inventory?
3.What is the length of Kraft's operating cycle?