Selected financial data of Target and Wal-Mart for a recent year are presented h

Question

Selected financial data of Target and Wal-Mart for a recent year are presented here (in millions) Target Corporation Income Statement Data for Year Wal-Mart Stores, Inc. Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $61,471 41,895 16,200 647 1,896 1,776 $ 2,849 $374,526 286,515 70,847 1,798 4,273 6,908 $ 12,731 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity $18,906 25,654 $44,560 $11,782 17,471 15,307 $44,560 $47,585 115,929 $163,514 $58,454 40,452 64,608 $163,514

Explanation / Answer

In the given question Days in inventory showing wrong i.e. 43.3 (Wal-Mart)

Days in inventory of Wal- Mart will be = 360 Days / Inventory Turnover

= 360 Days / 8.3 = 43.373 or 43.4 (Round answer to 1 decimal place)

hence right answer will be 43.4 Days

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.