Business, 29.03.2021 17:30 wolffee895

Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2012 2013 2014 2015 Net Sales Revenue $ 3,900 $ 3,360 $ 2,690 $ 2,270 Cost of Goods Sold 3,030 2,610 2,150 1,870 Average Inventory 390 340 280 270 Required: 1-a. Calculate the inventory turnover ratio for 2015, 2014, and 2013. 1-b. Calculate the average days to sell inventory for 2015, 2014, and 2013. 2. Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 6.1 times in 2015 (59.8 days to sell). Both companies use the same inventory costing method (FIFO).

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