Essay
Imar Corp.'s 2009 and 2010 balance sheets and income statements follow.
Required:
A) Calculate Imar's average inventory for 2010.
B) Calculate Imar's inventory turnover ratio.
C) Calculate the average age of Imar's inventory, assuming a 360-day calendar year.
D) Given your calculations in parts (b) and (c), what conclusions might you draw about Imar's business operations?
Correct Answer:
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a. Average Inventory = ($400,000 + $320,...View Answer
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Correct Answer:
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