The following financial information (in US$ millions)
Question and Solution
The following financial information (in US$ millions) is for two major corporations for the three years ended December
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The following financial information (in US$ millions) is for two major corporations for the three years ended December 31: Instructions (a) Calculate the inventory turnover, days sales in inventory, current ratio, acid-test ratio, gross profit margin, and profit margin for each company for 2011 and 2010. (b) Comment on each company's profitability and liquidity. Taking It Further Companies are required to disclose in a significant accounting policies note how they determine the cost of their inventory. Both Pepsi and Coca-Cola state that they use average and FIFO. Under what circumstances would it make sense for a company use both cost formulas?
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