A company reports the following: Cost of goods sold $480,000 Average inventory 80,000 Determine (a) The inventory

Question:

A company reports the following:

Cost of goods sold $480,000

Average inventory 80,000

Determine

(a) The inventory turnover and

(b) The number of days’ sales in inventory. Round to one decimal place

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

See More Books

Question Posted: Aug 29, 2011 06:51 PM

See More Questions

Inventory turnover is calculated as cost of goods sold divided by ending inventory . 1. True 2. False
A company reports the following information from its financial statements: Required Conduct horizontal and vertical analyses of inventory for the current year. Round percentages to one decimal point...
A company reports the following for accounts receivable: Required For each year, determine the company's total or gross accounts receivable, net realizable value of accounts receivable, and allowance...
Which of the following in not a function of DBA? A. Network Maintenance B. Routine Maintenance C. Schema Definition D. Authorization for data access
What is Matsushita trying to achieve with human resource changes it has announced? What are the impediments to successfully implementing these changes? What are the implications for Matsushita if (a)...
A manager asks their employees to frequently work unpaid overtime regularly to meet project deadlines. 1. Discuss the ethical & legal aspects of this practice. 2. Engage in "Moral Imagination" and...
What measures of location are commonly computed for frequencies?
Giant acquired all of Small's common stock on January 1, 2011. Over the next few years, Giant applied the equity method to the recording of this investment. At the date of the original acquisition,...
I am praticisning question 2 a,b,c however the answers seems like I have negative climbrate and i would like some detailed feedback Image transcription text It can be shown that the rate of climb for...
SAE specifications call for the low-side R-134a servicehose to be A) Solid blue with a black stripe B) Solid blue with no stripe C) Solid blue with a yellow stripe D) Solid black with a blue stripe...
A company reports the following: Cost of goods sold $510,000 Average inventory 60,000 Determine (a) The inventory turnover and (b) The number of days sales in inventory. Round to one decimal place
The following information was taken from Grain Companys balance sheet: Fixed assets (net) $600,000 Long-term liabilities 400,000 Total liabilities 600,000 Total stockholders equity 400,000 Determine...
Why does the marginal product of capital decrease as more capital is added?
List five consumer goods that you have purchased recently. For each, note the source of a raw material that went into that good. For example, a computer mouse is made from plastic by the...
SLYMN Enterprises has a P/E ratio of 12.5 and a dividend payout ratio of 35%. If its equity cost of capital is 12.5%, what growth rate is its P/E ratio consistent with?
GHL, Inc., has a dividend payout ratio of 55%. Its cost of equity is 10.7% and its dividend growth rate is 4.9%. If its forward EPS is $5.68, what is your estimate of its stock price?
Next year, BHH Co. is expected to pay a dividend of $2.77 per share from earnings of $4.75 per share. The equity cost of capital for BHH is 12.1%. What should BHHs forward P/E ratio be if its...
CSH has EBITDA of $4 million. You feel that an appropriate EV/EBITDA ratio for CSH is 8. CSH has $9 million in debt, $3 million in cash, and 750,000 shares outstanding. What is your estimate of CSHs...
The Zeners purchased approximately 14 acres of forested property from Gutierrez, which resulted in the Zeners giving Gutierrez a promissory note. The Zeners then began to discover that trees were...
Record the following selected transactions for March in a two-column journal, identifying each entry by letter: (a) Received $10,000 from Shirley Knowles, owner. (b) Purchased equipment for $35,000,...
Suppose we write the price function of the swaption as [see (8.4.9)], the resulting expression reveals a hedging strategy of the swaption using discount bonds with varying maturities. The replicating...
a) Give one reason why local Pakistan bus businesses could benefit from Pakistan's crisis. b) Give one reason why local bus businesses could be hurt by the Rupee crisis.
A P/E multiple could be high relative to the S&P 500 Index because its high growth rate justifies it. You notice a stock that has an assumed growth rate of 5.43% with a dividend payout ratio of 64.9%...
What would be the volume ( cm 3 ) of a piece of Styrofoam if it had a mass of 3 5 0 g , no matter its shape? Show calculation.

A company reports the following: Cost of goods sold $480,000 Average inventory 80,000 Determine (a) The inventory

Question:

Step by Step Answer:

a b Cost of Goods sold Average Inventor...View the full answer

Accounting

Related Video

Students also viewed these Accounting questions