CONNECT – BUS 530 . EXAM 1 GUIDE – LATEST 2014 2023 Business & Finance
2023 Investment banks like Merrill Lynch or Goldman Sachs Problem 4 17 Inventory Turnover
Investment banks like Merrill Lynch or Goldman Sachs:
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Problem 417 Inventory Turnover (LO3)
Assume a firm’s inventory level of $18,000 represents 24 days’ sales. What is the inventory turnover ratio?(Use 365 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places.) 
Inventory turnover ratio 
[removed] times per year 

Salad Daze maintains an inventory of produce worth $380. Its total bill for produce over the course of the year was $71,000. How old on average is the lettuce it serves its customers? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places.) 
Average days 
[removed] 
Problem 420 Du Pont Analysis (LO4)
Torrid Romance Publishers has total receivables of $3,180, which represents 20 days’ sales. Total assets are $77,380. The firm’s operating profit margin is 6.2%. Find the firm’s asset turnover ratio and ROA. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.) 


Asset turnover ratio 
[removed] 
ROA 
[removed] % 

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