Compute the inventory turnover for each year, Accounting Basics

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Compute the inventory turnover for each year

the following relates to the activities of a pharmaceutical company (amounts in millions):

Year1 Year 2 Year 3 Year 4

Sales $3,271 $3,720 $3,644 $4,070

Cost of goods sold 1,175 1,346 1,303 1,337

Average Inventory 662 694 655 645

A. Compute the inventory turnover for each year

B. Compute the average number of days that inventories were held each year

C. Compute the ratio of cost of goods sold to sales , expressed as a percentage for each year

D. How well has the company manage its inventories over the four years?

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Accounting Basics: Compute the inventory turnover for each year

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Accounting Basics: Compute the inventory turnover for each year

Reference No:- TGS0674950

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is his allowable business expense deduction

Q : The transaction in general journal form

Q : The unrealized gain or loss on trading investments

Q : What effect does this distribution have on jude

Q : Compute the inventory turnover for each year

Q : Compute the total materials variance and the price

Q : What the underlying fundamental concept

Q : Why do we want to use comparative statements

Q : What is the relevant cost of making the crowns

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute the inventory turnover for each year

Reference No:- TGS0674950

Recent Questions Asked Accounting Basics

Q : What is his allowable business expense deduction

Q : The transaction in general journal form

Q : The unrealized gain or loss on trading investments

Q : What effect does this distribution have on jude

Q : Compute the inventory turnover for each year

Q : Compute the total materials variance and the price

Q : What the underlying fundamental concept

Q : Why do we want to use comparative statements

Q : What is the relevant cost of making the crowns

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