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Category > Accounting Posted 20 Aug 2017 My Price 8.00

Kroger, Safeway Inc

EX 6-21  Inventory turnover and number of days’ sales in inventory                  ObJ. 7

Kroger, Safeway Inc., and Whole Foods Markets, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise inventory information:

 

Merchandise Inventory

 

 

 

 

 

End of Year (in millions)

Beginning of Year (in millions)

kroger

$5,114

$4,966

safeway

2,470

2,623

Whole Foods

374

337

 
 

 

 

 

 

The cost of goods sold for each company was:

 

 

Cost of Goods Sold (in millions)

kroger

$71,494

safeway

31,837

Whole Foods

11,699

a.     Determine the number of days’ sales in inventory (use 365 days and round to the nearest day) and the inventory turnover (round to one decimal place) for the three companies.

b.     Interpret your results in part (a).

c.     If Kroger had Whole Foods’ number of days’ sales in inventory, how much additional cash flow (rounded to nearest million) would have been generated from the smaller inventory relative to its actual average inventory position?

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Maurice Tutor
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Status NEW Posted 20 Aug 2017 06:08 PM My Price 8.00

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