Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): Net Sales Revenue Cost of Goods Sold Average Inventory 2012 2013 2014 2015 $4,700 $4,160 $3,490 $3,070 4,020 3,550 3,050 2,670 470 420 350 360 Required: 1-a. Calculate the inventory turnover ratio for 2015, 2014, and 2013. 1-b. Calculate the average days to sell inventory for 2015, 2014, and 2013, 2. Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 6.9 times in 2015 (52.9 days to sell). Both companies use the same inventory costing method (FIFO). Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 Reg 2
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.