Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following balances: 11eb71cd_0f67_3bdd_a6e4_6b053654e434_SM1595_00 Refer to the information for Nikkola Company above. Required: Note : Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days.x 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?

Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

النسخة 6الرقم المعياري الدولي: 978-1305103962

Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

النسخة 6الرقم المعياري الدولي: 978-1305103962

تمرين 14

Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days
Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following balances:

Refer to the information for Nikkola Company above.
Required:
Note : Round answers to one decimal place.
1. Calculate the average inventory.
2. Calculate the inventory turnover ratio.
3. Calculate the inventory turnover in days.x
4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?

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The average inventory can be calcula...