Harman International Industries is a world leading producer of loudspeakers and
Harman International Industries is a world-leading producer of loudspeakers and other electronics products, which are sold under brand names like JBL, Infinity, and Harman/Kardon. The company reported the following amounts in its financial statements (in millions):
Required:
1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. Round to one decimal place.
2. Comment on any changes in these measures and compare the effectiveness of inventory man-agers at Harman to inventory managers at Panasonic Corporation, where inventory turns over 6.7 times per year (54 days to sell). Both companies use the same inventory costing method (FIFO).
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