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Analysing Days Inventory Turnover Solved

Referencing Styles : Harvard | Pages : 2
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Answer 8.39:

The following is the desired solution:

a.       

Inventory Turnover Ratio (in Days)

Inventory/Cost of Sales*365

   

Inventory

                                                     37,500.00

Cost of Sales

                                                 3,25,000.00

No. of Days

365

   

Inventory Turnover Ratio (in days)

                                                             42.12

Round off

 43  days

   

Days Debtors

Accounts Receivable / Sales *365

   

Accounts Receivable

                                                     62,500.00

Sales

                                                 4,25,000.00

No. of Days

365

   

Days Debtors

                                                             53.68

Round off

 54 days

   
   

Current Ratio

Current Assets / Current Liabilities

   

Current Assets

 

Accounts Receivable

                                                     62,500.00

Prepaid Expenses

                                                       5,000.00

Cash

                                                       7,500.00

Inventory

                                                     37,500.00

 

                                                 1,12,500.00

Current Liabilities

 

Bank Overdraft

                                                       6,500.00

Accounts Payable

                                                     40,000.00

Accrued expenses

                                                       3,000.00

 

                                                     49,500.00

   

Current Ratio (in times)

                                                               2.27

or

2.27:1

   
   

Quick Ratio

Liquid Assets /Current Liabilities

   

Liquid Assets

 

Current Assets

                                                 1,12,500.00

Less: Prepaid Expenses

                                                     -5,000.00

Less: Inventory

                                                   -37,500.00

 

                                                     70,000.00

   

Current Liabilities

                                                     49,500.00

   

Quick Ratio (in times)

                                                               1.41

or

1.41:1

   
   
   

Risks

 

The optimal Current ratio is 2:1

 

The optimal Liquid ratio is 1:1

 

 

b.    

Solutions

OR

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