Suppose that the following information is available for Nike Inc. for the current year. Beginning inventory Ending inventory Cost of goods sold Net sales Inventory turnover Days in inventory $11,570 Gross profit rate 14,360 Calculate the inventory turnover, days in inventory, and gross profit rate for Nike Inc. for the current year. (Round gross profit rate to 2 decimal places, eg. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 103,720 145,200 times days %
Suppose that the following information is available for Nike Inc. for the current year. Beginning inventory Ending inventory Cost of goods sold Net sales Inventory turnover Days in inventory $11,570 Gross profit rate 14,360 Calculate the inventory turnover, days in inventory, and gross profit rate for Nike Inc. for the current year. (Round gross profit rate to 2 decimal places, eg. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 103,720 145,200 times days %
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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