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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 36
Comparing inventory ratios for two companies
Tiffany Co. is a high-end jewelry retailer, while Amazon.com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Tiffany and Amazon.com (in millons) are as follows:
The cost of merchandise sold reported by each company was as follows:
a. Determine the inventory turnover and number of days' sales in inventory for Tiffany and Amazon.com. Use 365 days and round to two decimal places.
b. Interpret your results.
Tiffany Co. is a high-end jewelry retailer, while Amazon.com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Tiffany and Amazon.com (in millons) are as follows:
The cost of merchandise sold reported by each company was as follows:
a. Determine the inventory turnover and number of days' sales in inventory for Tiffany and Amazon.com. Use 365 days and round to two decimal places.
b. Interpret your results.
Explanation
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a) Inventory turnover Ratio determines t...
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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