question about 4) inventory turnover calculate
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Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 10,000 Accounts payable 8,400 Accrued wages payable 33,700 Income taxes payable 32,150 Long-term note payable, secured by mortgage on plant assets 2,650 Common stock 153,300 Retained earnings $ 240, 200 Total liabilities and equity $ 17,500 3,200 3,300 63,400 90,000 62,800 $ 240,200 CABOT CORPORATION Income
Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 297, 250 Gross profit 151, 350 Operating expenses 98,600 Interest expense Income before taxes 48,650 Income tax expense 19,598 Net income $ 29,052 4,100 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. (Do not round intermediate calculations.)
Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. (Do not round intermediate calculations.) Complete this
question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req Req 10 Req 11 Compute the inventory turnover. (4) Numerator: Inventory Turnover 1 Denominator: | Average inventory Inventory Turnover Inventory Turnover II = Cost of goods sold $ 297,250 = 0 times < Reg 3 Reg 5 >