A measure useful in evaluating the efficiency in managing

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A measure useful in evaluating the efficiency in managing inventories is:

a. inventory turnover.

b. average days to sell inventory.

c. Both (a) and (b).

d. None of the above. Use the following financial statement information as of the end of each year to answer Self-Study Questions 8-12.


2011

2010

Inventory

$ 54,000

$ 48,000

Current assets

81,000

106,000

Total assets

482,000

426,000

Current liabilities

27,000

36,000

Total liabilities

102,000

88,000

Common stockholders' equity

280,000

238,000

Preferred stock

100,000

100,000

Net sales

784,000

697,000

Cost of goods sold

306,000

277,000

Net income

134,000

90,000

Tax expense

22,000

18,000

Interest expense

12,000

12,000

Dividends paid to preferred



stockholders

20,000

20,000

Dividends paid to common



stockholders

15,000

10,000

Reference no: EM13571439

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