Just a Buck Discount Stores is assessing its levels of inventory for 2010 and 2011 and has

Question:

Just a Buck Discount Stores is assessing its levels of inventory for 2010 and 2011 and has gathered the following data:

Compute the inventory turnover and days’ inventory on hand for 2010 and 2011 and comment on the results. (Note: Round final answers 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

Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

See More Books

Question Posted: Sep 10, 2014 11:37 AM

See More Questions

Big Sale Stores is assessing its levels of inventory for 2013 and 2014 and has gathered the following data: Compute the inventory turnover and days inventory on hand for 2013 and 2014 (round to one...
Big Sale Stores is assessing its levels of inventory for 2013 and 2014 and has gathered the following data: 2014 2013 2012 Ending inventory $192,000 $162,000 $138,000 Cost of goods sold 960,000...
The bookkeeper of Coast Co. gathered the following data from individual employee earnings records and daily time cards. Your task is to complete a payroll register on November 17. Assume the...
Using the framework of the marketing mix, appraise the marketing tactics of Boo.com in the areas of Product, Pricing, Place, Promotion, Process, People and Physical Evidence.
A turbofan engine operating on an aircraft flying at 200 m/s at an altitude where the air is at 50 kPa and -20C, is to produce 50,000 N of thrust. The inlet diameter of this engine is 2.5 m; the...
You are earning 5.2 percent on a certificate of deposit. Inflation is running 3.5 percent. What is the real rate of return on your investment?
Consider a binomial model with three dates as introduced at the end of Sect. 6.3 (with $t \in\{0,1,2\}$ ) and a contingent claim with payoff $f\left(s_{2} ight)$, where $s_{2}$ denotes the...
The Purdue Pegboard Task is a standard test for motor skills. It consists of a board with a series of holes and three types of pieces: pegs, washers and standoffs, stored in a depression at the top...
Besides possibly paying the premiums for a medical insurance plan, the insured is almost always responsible for making other, out-of-pocket payments. This practice helps keep overall costs down for...
A focus group of 10 adults was chosen to evaluate the performance of a candidate during a presidential debate. Each member of the group rated the overall performance on a scale of 1 (poor) to 10...
During 2011, Hanks Supplies had beginning inventory of $1,440,000, ending inventory of $1,780,000, and cost of goods sold of $6,500,000. Compute the inventory turnover and days inventory on hand.
Condensed income statements for Kozumel Company for two years are shown below. After the end of 2011, the company discovered that an error had resulted in an $18,000 understatement of the 2010 ending...
How can a portfolio manager use a credit default swap index where the underlying are investment-grade corporate bonds to alter exposure to the corporate bond market?
If the prospect is ready to buy before you have presented all of your selling points, should you make an effort to complete your sales presentation? Explain your answer.
Define the term payback period. Why is the payback period a poor measure for determining whether a capital expenditure proposal is acceptable?
Define the net present value of a capital expenditure proposal. Identify what amount of net present value indicates an acceptable (unacceptable) proposal.
Develop a list of the sales tools that the salesperson should consider when planning a sales demonstration.
List the common types of buyer concerns that might surface in a presentation.
Nitrogen at 15 bar and 100 K is to be adiabatically flashed to 1 bar. Determine the exiting temperature of nitrogen and the fractions that are vapor and liquid using the Peng-Robinson equation of...
Southwestern Punch was made by Frutayuda, Inc. and sold in 12-ounce cans to benefit victims of Hurricane Zero. The mean number of ounces placed in a can by an automatic fill pump is 11.7 with a...
Go to the Web. Locate the decisions of your states highest appellate court. Find a recent decision in which the court discussed the definition of one of the crimes covered. If you cannot locate such...
Blue Jeans Shop had net retail sales of $390,000 during the current year. The following additional information was obtained from the companys accounting records: Using the retail method, estimate the...
During 2014, Victorias Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days inventory on hand....
Dynamic Company, a telecommunications equipment company, has used the LIFO method adjusted for lower of cost or market for a number of years. Due to falling prices of its equipment, it has had to...
How is a market structure identified? What type of market structure drives the pharmaceutical market?
Quality is often described as the fourth triple - constraint ( cost , schedule, and scope being the other three constraints ) . Address this project quality topic by discussing the following key...
Image transcription text Moist air flow through a duct which contains a heating element. The moist air enters at 95 kPa, 12 C and (I) = 30%; the flow rate is 6 m3/min. Air leaves the heating element...

Just a Buck Discount Stores is assessing its levels of inventory for 2010 and 2011 and has

Question:

Ending inventory Cost of goods sold 2011 $96,000 480,000 2010 81,000 450,000 2009 $69,000

Step by Step Answer:

Just a Buck Discount Stores inventory is increasing much ...View the full answer

Financial Accounting

Related Video

Students also viewed these Accounting questions