The inventory turnover for Haute Hippie has gone from an average of 9.94 times to 10.57...
The inventory turnover for Haute Hippie has gone from an average of 9.94 times to 10.57 times per year. How does this affect the inventory period? Assume 365 days per year.
Multiple Choice
-
Decrease of 2.41 days.
-
Decrease of 2.19 days.
-
Increase of 2.01 days.
-
Increase of 2.19 days.
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Decrease of 2.01 days.
Homework Answers
Answer:
Inventory Period = 365 / Inventory Turnover
Current
Situation:
Inventory Period = 365 / 9.94
Inventory Period = 36.72 days
Proposed
Situation:
Inventory Period = 365 / 10.57
Inventory Period = 34.53 days
The change in Inventory Turnover will decrease Inventory Period by 2.19 days (36.72 days – 34.53 days)
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The inventory turnover for Haute Hippie has gone from an average
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