Saved IL Chapter 7 Homework Check my w 6 PA7-3 Calculating and Interpreting the Inventory...
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Saved IL Chapter 7 Homework Check my w 6 PA7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5) 10 points Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions): Net Sales cost of Goods Sold Beginning Inventory Ending Inventory 2016 36,300 5,200 520 720 2015 $6,360 5,000 530 520 eBook Print Required: 1. Determine the inventory turnover ratio and average days to sell Inventory for 2016 and 2015. (Use 365 days in a year. Round your Intermediate and final answers to 1 decimal place.) References 2015 2016 times per year Inventory Turnover Ratio Days to Set times per year days days
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