Based on the following information: compute (a) Inventory turnover; (b) Average daily cost of merchandise sold; and (c) Number of days' sales in inventory for 2011. Use a 365-day year. (d) If an inventory turnover of 12 is average for the industry, how is this company doing?
Definitions:
Collecting Loans
The process of obtaining repayment of a loan or debt, including the principal and any accrued interest.
Investing Activities
Financial activities related to the acquisition and disposal of long-term assets and other investments not considered as cash equivalents.
Financing Activities
Financial transactions primarily involved with funding the company and its capital structure, including issuing debt, paying off debt, and equity transactions.
Issuing Debt
The process in which a corporation or governmental entity raises funds by selling bonds, bills, or notes to investors with a promise to pay back the principal along with interest on a specified date.
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