The financial statements of ConAgra Foods, Inc.'s recent annual report disclose the following information. (in millions)...
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The financial statements of ConAgra Foods, Inc.'s recent annual report disclose the following information. (in millions) Year-end inventories Net sales Cost of goods sold Net income Current Year $934.2 7,826.9 5,484.8 648.0 Prior Year $1,044.1 8,664.1 6,234.9 (665.9) Compute ConAgra's (a) inventory turnover (inventory at the beginning of the prior year was $1,642.6) and (b) the average days to sell inventory for the current and prior years. Assume a year has 365 days. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to O decimal places, e.g. 65.) The financial statements of ConAgra Foods, Inc.'s recent annual report disclose the following information. (in millions) Year-end inventories Net sales Cost of goods sold Net income Current Year $934.2 7,826.9 5,484.8 648.0 Prior Year $1,044.1 8,664.1 6,234.9 (665.9) Compute ConAgra's (a) inventory turnover (inventory at the beginning of the prior year was $1,642.6) and (b) the average days to sell inventory for the current and prior years. Assume a year has 365 days. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to O decimal places, e.g. 65.)
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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