Reference no: EM132631136
A recent annual report of Kraft Foods Group, Inc., reveals the following information (dollar amounts are stated in millions).
Cost of goods sold $13,360
Inventory (beginning of year) $1,616
Inventory (end of year) $1,775
Average time required to collect accounts receivable 17days
Problem a. Compute Kraft Food Group, Inc.'s inventory turnover for the year. (Round your answer to 1 decimal place.)
Problem b. Compute the number of days required to sell its average inventory. (Use 365 days in a year. Round your answer to the nearest whole number.)
Problem c. What is the length of Kraft's operating cycle? (Round your answer to the nearest whole number.)
a. Inventory turnover ??? times
b. Number of days ??? days
c. Length of operating cycle ??? days
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