When reading a balance sheet, is the average inventory a ratio that should be calculated or is
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Balance Sheet Accounts and notes receivable (a) Trade receivables Other receivables Total Allowance, beginning of year Cumulative effect of accounting change Net amounts charged to expense (b) Deductions (c) Other (d) Allowance, end of year Net receivables Inventories (e) Raw materials and packaging Work-in-process Finished goods Total Property, plant and equipment, net Land Buildings and improvements Machinery and equipment, including fleet and software Construction in progress Accumulated depreciation Total Depreciation expense Other assets Noncurrent notes and accounts receivable Average Useful Life (Years) 15-44 5-15 $ $ $ $ $ $ $ $ 2022 8,192 2,121 10,313 147 21 (12) (6) $ 150 10,163 $ 2,366 $ 114 2,742 5,222 $ 1,142 10,816 33,335 4,491 49,784 (25,493) $ 24,291 $ 2,523 $ 202 $ 2021 7,172 1,655 8,827 201 $ (19) (25) (10) 147 8,680 1,898 151 2,298 4,347 1,123 10,279 31,486 3,940 46,828 (24,421) 22,407 $ 2,484 $ 111 2020 105 44 79 (32) 5 201 2,335 Balance Sheet Accounts and notes receivable (a) Trade receivables Other receivables Total Allowance, beginning of year Cumulative effect of accounting change Net amounts charged to expense (b) Deductions (c) Other (d) Allowance, end of year Net receivables Inventories (e) Raw materials and packaging Work-in-process Finished goods Total Property, plant and equipment, net Land Buildings and improvements Machinery and equipment, including fleet and software Construction in progress Accumulated depreciation Total Depreciation expense Other assets Noncurrent notes and accounts receivable Average Useful Life (Years) 15-44 5-15 $ $ $ $ $ $ $ $ 2022 8,192 2,121 10,313 147 21 (12) (6) $ 150 10,163 $ 2,366 $ 114 2,742 5,222 $ 1,142 10,816 33,335 4,491 49,784 (25,493) $ 24,291 $ 2,523 $ 202 $ 2021 7,172 1,655 8,827 201 $ (19) (25) (10) 147 8,680 1,898 151 2,298 4,347 1,123 10,279 31,486 3,940 46,828 (24,421) 22,407 $ 2,484 $ 111 2020 105 44 79 (32) 5 201 2,335
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The average inventory is not a given number in the balance sheet under inventories but a ratio that ... View the full answer
Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
Posted Date:
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