Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost, calculate the average inventory (in $) and inventory turnover for the following. If the actual turnover is less than the published rate, calculate the target average inventory (in necessary to come up to industry standards. If the actual turnover is greater than the published rate, enter "above" for target average inventory. Round inventories to the nearest dollar and inventory turnovers to the nearest tenth. Net Sales Cost of Goods Sold $345,000 Beginning Inventory $44,000 Ending Inventory $52,000 $ Average Inventory Inventory Turnover Published Rate 6.0 Target Average Inventory

Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost, calculate the average inventory (in $) and inventory turnover for the following. If the actual turnover is less than the published rate, calculate the target average inventory (in necessary to come up to industry standards. If the actual turnover is greater than the published rate, enter "above" for target average inventory. Round inventories to the nearest dollar and inventory turnovers to the nearest tenth. Net Sales Cost of Goods Sold $345,000 Beginning Inventory $44,000 Ending Inventory $52,000 $ Average Inventory Inventory Turnover Published Rate 6.0 Target Average Inventory

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter10: Forecasting Financial Statement

Section: Chapter Questions

Problem 5QE: Use the following hypothetical data for Walgreens in Years 11 and 12 to project revenues, cost of...

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