Question: Please, help me answering this question. I couldnt solve it. CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell Lo GameWorld Corp.

Please, help me answering this question. I couldnt solve it.  Please, help me answering this question. I couldnt solve it. CP7-3

CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell Lo GameWorld Corp. is the world's largest multichannel video game retailer. The company reported the following amounts in its financial statements (in millions). Net Sales Revenue$18,900 $18,400 Cost of Goods Sold10,240 9,840 Beginning Inventory Ending Inventory 2,800 2,100 3,200 2,800 Required 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory). 2013 times per year days 2012 Inventory Turnover Ratio times per year Days to Sel days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f