Nugent, Inc., has a gross profit margin of 32.00 percent on sales of $10,576,440
ID: 2373512 • Letter: N
Question
Nugent, Inc., has a gross profit margin of 32.00 percent on sales of $10,576,440 and total assets of $8,186,056. The company has a current ratio of 2.63 times, accounts receivable of $1,726,457, cash and marketable securities of $218,403, and current liabilities of $939,957. (Round inventory turnover ratio and DSO answers to 2 decimal places, e.g.12.55 and other answers to 0 decimal places, e.g. 5,675.)
What is Nugent%u2019s level of current assets? $ How much inventory does the firm have? $ What is the inventory turnover ratio? times What is Nugent%u2019s days%u2019 sales outstanding? days If management wants to set a target DSO of 30 days, what should Nugent%u2019s accounts receivable be? $Explanation / Answer
the above answer of inventory turnover was when you calculate on sales if you calcultae on cost of good sold than it will be =7185859/2472087 =2.91 So its up to you which one you take both are correct ........but most of the when COGS is not given than only we use sale figure please rate me 5 and let me get my points if you think answer is wrong than at least you give me answer
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