Given the following information what is the Inventory Turnover period? BALANCE S

Question

Given the following information what is the Inventory Turnover period? BALANCE SHEET (in millions) Cash Accts, receivable Inventories Total current assets s 140.0 Accounts payable S 800.0 976.7 Notes payable 1.223.3 Accruals S2,340.0 Total current liabilities 700.0 300.0 Long-term bonds Total debt Common stock (50,000 shares) Retained earnings $1,800.0 1,000.0 S2,800.0 200.0 000.0 $1.200.0 1,660.0 Total common equity S4.0000 Total liabilities & equity Net plant & equip. $4,0000 Total assets INCOME STATEMENT (in millions)

Explanation / Answer

INVENTORY TURNOVER DAYS=365/(6000/1223.3)=74.5

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