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The following information is available from the annual reports of Young and Olde:

  (Amounts in millions) 
  Young Olde 
2014 ending Inventory $6,031  $4,816  
2013 ending inventory 6,162  5,044  
Cost of goods sold 25,937  31,983  
Sales revenue 29,656  36,704  
2014 LIFO reserve 227  —  
2013 LIFO reserve 225  —  


Calculate the inventory turnover and days in inventory for both companies. What conclusion concerning the management of inventory can be drawn from these data?

    • 11 years ago
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