(Analysis of Inventories) The financial statements of General Mills, Inc.’s 2010 annual report disclose the following information.
(in millions) | 30-May-10 | 31-May-09 | 25-May-08 |
Inventories | $1,344 | $1,347 | $1,367 |
Fiscal Year | |||
2010 | 2009 | ||
Sales | $14,797 | $14,691 | |
Cost of goods sold | 8,923 | 9,458 | |
Net income | 1,535 | 1,314 |
Instructions
Compute General Mills’s (a) inventory turnover and (b) the average days to sell inventory for 2010 and 2009.
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