TABLE 11.10 For Problems 11.9, 11.10, and 11.11 LAST YEAR THIS YEAR Sales $ 215,000 $ 228,000 Cost of goods sold 121,000 131,000 Gross margin 94,000 97,000 Other expenses 49,000 49,000 Net income 45,000 48,000 Finished goods inventory 2,000 5,000 Work-in-process inventory 10,000 12,000 Raw material inventory 5,000 6,000 23,000 Total inventory (average for year) 17,000 Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000
TABLE 11.10 For Problems 11.9, 11.10, and 11.11 LAST YEAR THIS YEAR Sales $ 215,000 $ 228,000 Cost of goods sold 121,000 131,000 Gross margin 94,000 97,000 Other expenses 49,000 49,000 Net income 45,000 48,000 Finished goods inventory 2,000 5,000 Work-in-process inventory 10,000 12,000 Raw material inventory 5,000 6,000 23,000 Total inventory (average for year) 17,000 Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Based on the data in Table 11.10, you have been asked to determine: a) The company's percentage of assets committed to inventory last year. b) The company's percentage of assets committed to inventory this year. c) The change in the percentage of assets committed to inventory. |
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