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masya89 [10]
3 years ago
12

The 2016 financial statements of CVS Health Corporation reported the following information (in millions): 2016 2015 Net sales $1

77,526 $153,290 Cost of sales 148,669 126,762 Inventories, net 14,760 14,001 The inventory turnover ratio for 2016 is: Select one: A. 9.22 B. 11.48 C. 9.33 D. 10.34 E. None of the above
Business
1 answer:
Serggg [28]3 years ago
8 0

Answer:

option (D) 10.34

Explanation:

The  inventory turnover ratio for 2016 will be given as:

= [Cost of goods sold ] ÷ Average inventory

also,

Cost of goods sold in 2016 = $148,669

Average inventory = [ 2015 inventory + 2016 inventory ] ÷ 2

= [ 14,001 + 14,760 ] ÷ 2

= 28761 ÷ 2

= 14,380.5

Therefore,

The  inventory turnover ratio for 2016 = $148,669 ÷ 14,380.5

= 10.34

Hence,

The answer is option (D) 10.34

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Answer:

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Answer:

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madam [21]

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3 0
3 years ago
Which three factors should you consider when deciding when and where to compose?
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Time management, environment, and interruptions are the three factors you should consider when deciding when and where to compose.

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Environment: The best writing environment is necessary while composing. It forces the user to write because humans are social animals and are well motivated by social pressures. when it comes to writing That's a good thing. It urges the user to write more and to stay happier about doing as we are surrounded by other people who are composing.

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Answer:

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