Over the past year, Keto Grocery Store had a cost of goods sold of $24,500,000 and an

Question:

Over the past year, Keto Grocery Store had a cost of goods sold of $24,500,000 and an average value of inventory of $1,100,500. What is its inventory turnover? What does it mean?

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

Step by Step Answer:

Related Book For book-img-for-question

Operations And Supply Chain Management

ISBN: 9780357131695

2nd Edition

Authors: David A. Collier, James R. Evans

See More Books

Question Posted: Mar 06, 2023 05:20 AM

See More Questions

The Robinson Company had a cost of goods sold of $1,000,000 in 2014 and $1,200,000 in 2015. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have been the...
The Robinson Company had a cost of goods sold of $1,000,000 in 2016 and $1,200,000 in 2017. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have been the...
The Taylor Company Limited reported a cost of goods sold of $640,000 last year, when 20,000 units were produced and sold. The cost of goods sold was 35% materials, 42% direct labour, and 23%...
One type of systematic error arises because people tend to think of benefits in percentage terms rather than in absolute dollar amounts. As an example, Samir is willing to drive 20 minutes out of his...
For a certain wine, the mean pH (a measure of acidity) is supposed to be 3.50 with a known standard deviation of = .10. The quality inspector examines 25 bottles at random to test whether the pH is...
Use the magnitudes (Richter scale) of the 600 earthquakes listed in Data Set 21 "Earthquakes" in Appendix B. In 1989, the San Francisco Bay Area was struck with an earthquake that measured 7.0 on the...
Observations show that it is not possible to blow the table tennis ball from the funnel shown in Fig. P3.122a. In fact, the ball can be kept in an inverted funnel, Fig. P3.122b, by blowing through...
1. How does Toyotas approach to social responsibility relate to the three concepts of social responsibility described in the text (profit responsibility, stakeholder responsibility, and societal...
An investment of $21700 is accumulated at 5.24% compounded quarterly for three and one-half years. At that time the interest rate is changed to 6.12% compounded monthly. How much is the investment...
Dawid rolls a fair six-sided dice 10 times. He records, X, the number of times the dice lands on a prime number. a Define a suitable distribution to model X and write down two assumptions that are...
A big box electronics store sells 250 65-inch televisions during the year. The store maintains an average inventory of five units. What is its inventory turnover? What implications does this have for...
Research and find a physical good that is biodegradable or carbon neutral. Be prepared to present your findings to the class in a two- to five-minute discussion.
Scott Noojin had not quite mastered the stick shift in his new four-wheel-drive truck. While parking in a shopping center lot, he shifted into forward when he wanted reverse. With a sickening crunch,...
Explain Suppose the government grants $2,500 per child to households that have more than two children. Draw a graph and explain whether these child allowances influence the fertility behavior of...
Audit documentation satisfies the auditor's responsibilities concerning the Code of Professional Conduct. documents the level of independence maintained by the auditor. O provides the principal...
In June 2022, the Federal Reserved imposed its first 0.75% interest rate hike -- the largest increase since 1994. Starting in January 2023, they dropped back to lower rate increases, but the rate...
Write down 5 equations, 5 endogenous variables, and exogenous variables/parameters of the Solow model. What is the equation we use to draw the Solow-diagram? Show the steps and explain how you drive...
answer the following questions by using ilnk https://www.bankrate.com/investing/how-to-invest-in-stocks/#easy-steps 1. What are 4 easy steps to get started with investing in stocks? List and explain...
Suppose that g is continuously differentiable on some interval (c, d) that contains the fixed point p of g. Show that if |g'( p)| < 1, then there exists a > 0 such that if |p0 p| , then the...
Find the cross product a x b and verify that it is orthogonal to both a and b. a = (t, 1, 1/t), b = (t 2 , t 2 , 1)
A call center employs 1,000 agents. Every month 50 employees leave the company and 50 new employees are hired. a. How long, on average, does an agent work for this call center? Suppose the cost of...
A call center employs 1,000 agents. Every month 50 employees leave the company and 50 new employees are hired. a. How long, on average, does an agent work for this call center? Suppose the cost of...
Money Laundry has 10 washers and 15 dryers. All orders are first sent to wash and then to dry. It takes, on average, 30 minutes to wash one order and 40 minutes to dry. a. What is the capacity of the...
Air cooling takes place when heat from a running engine is transferred from fins to the surrounding air. The rate at which this cooling takes place depends on four [4] requirements. What are they?
Mass air flow (MAF) sensors are designed to work with other temperature and pressure sensors in the intake circuit. This allows the PCM to compensate for four [4] changing conditions such as?
Cooling also prevents the oil on the engine parts from breaking down and losing lubrication properties. While the engine must be cooled, it still needs to operate at a high temperature. What will...

Over the past year, Keto Grocery Store had a cost of goods sold of $24,500,000 and an

Question:

Step by Step Answer:

Inventory turnover IT Cost of goods sold Average inventory value 132 245000001100500 223 T...View the full answer

Operations And Supply Chain Management

Students also viewed these Business questions