(Solution) - The following account balances are taken from the records of -(2025 Original AI-Free Solution)

Discipline:

Type of Paper:

Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

Download Solution ($11.00) Write My Paper Afresh

Buy For $11.00

Paper Details

The following account balances are taken from the records of Lewis Inc., a wholesaler of fresh fruits and vegetables:

Required
1. Compute Lewis's inventory turnover ratio for 2012 and 2011.
2. Compute the number of days' sales in inventory for 2012 and 2011. Assume 360 days in a year.
3. Comment on your answers in parts (1) and (2) relative to the company's management of inventory over the two years. What problems do you see in its inventory management?