Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cp7-3 calculating and interpreting the inventory t

CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] GameWorld...

80.2K

Verified Solution

Question

Accounting

CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] GameWorld Corp. is the worlds largest multichannel video game retailer. The company reported the following amounts in its financial statements (in millions). 2013 2012 Net Sales Revenue $ 15,900 $ 15,400 Cost of Goods Sold 9,040 8,640 Beginning Inventory 2,500 1,800 Ending Inventory 2,900 2,500 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory).

2013 2012

Inventory Turnover times per year times per year

Days to Sell days days

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

or here 1 V RH 2 n V wave number 109677 76 cm 1 daglug...

Physics
Q

he body temperatures of a group of healthy adults have a​ bell-shaped distribution with a mean...

Statistics
Q

Describe the successes and failures of Reconstruction. Which do you feel were the most important and...

Psychology
Q

Describe how children with PTSD might demonstrate re-experiencing differently from adults. What developmental features should be considered...

Psychology
Q

4. A two-stage cascade cooling system operates between the pressure limits of 1 and 0.1 MPa....

Mechanical Engineering
Q

This question for Discrete Math course. All of them about the same topic!! Give me a simple...

Advance Math
Q

x 1 2x 3 x 25 2x 13x 15 State restrictios

Basic Math
Q

In Texas, the statute of limitations for a non-defaulting party to enforce their rights is...

Algebra
Q

On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this...

Accounting
Q

Complete this question by entering your answers in the tabs below. Compute the total activity...

Accounting
Q

QUESTION FOUR (a) Discuss the three theories of the term structure of interest rates. Include...

Finance
Q

Imagine that you work as a financial advisor. You have a client who would like...

Finance