Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. three companies that compete in the footwear marle

Three companies that compete in the footwear marlet are Foot Locker, Finish Line, and DSW....

80.2K

Verified Solution

Question

Accounting

Three companies that compete in the footwear marlet are Foot Locker, Finish Line, and DSW. The table below (pictured) shows inventory levels and cost of goods sold for each company for the 2016, 2015, and 2014 fiscal years.
Calculate the inventory turnover ratio for each company in each year and summarize your findings. All values are in millions of dollars.
image
image
2014 2016 $4,906 1,287 2015 $4,780 1,247 $4,382 1,221 Foot Locker Cost of goods sold Inventory Finish Line Cost of goods sold Inventory DSW Cost of goods sold Inventory $1,247 $1,121 $1,320 374 346 301 $1,856 481 $1,750 447 $1,636 401 The inventory turnover ratio for Foot Locker in 2016 is . (Round to three decimal places.)

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students