what was the inventory turnover for 2018? Young, Inc. 2018 Statement of comprehensive income...
50.1K
Verified Solution
Link Copied!
Question
Accounting
what was the inventory turnover for 2018?
Young, Inc. 2018 Statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid 80 Taxable income 519 Less: Taxes 156 Net income $363 Addition to retained earnings $254 Dividends paid 109 Young, Inc. 2017 and 2018 Statement of financial position ($ in millions) 2017 2018 $100 $121 Accounts payable 350 425 Notes payable 440 410 Total $890 $956 Long-term debt 1,556 1,704 Common stock $2,446 $2,660 Total liabilities Cash Accounts rec. Inventory Total Net fixed assets Total assets Retained earnings 2017 $400 390 $790 500 600 556 $2,446 2018 $350 370 $720 550 580 810 $2,660 What was inventory turnover for 2018? Multiple Choice O 3.15 O O 1.38 1.42 O O O O 1.38 1.42 1.48 3.38
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!
