Happy Valley Homecare Suppliers, Inc. (HVHS), had $10.9 million in sales in 2015. Its cost of goods
Question:
Happy Valley Homecare Suppliers, Inc. (HVHS), had $10.9 million in sales in 2015. Its cost of goods sold was $4.36 million, and its average inventory balance was $1.77 million.
a. Calculate the average number of days inventory outstanding ratios for HVHS.
b. The average days of inventory in the industry is 73 days. By how much would HVHS reduce its investment in inventory if it could improve its inventory days to meet the industry average?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a To calculate the average number of days inventory outstanding ratio for HVHS we need to divide the ...View the full answer
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
2+ Reviews
10+ Question Solved
Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781292437156
5th Global Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
Question Posted:
