Calculate the number of inventory turns. Company 1 60,792 Current Assets Accounts Receivable Inventory 44,431 Total...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Calculate the number of inventory turns. Company 1 60,792 Current Assets Accounts Receivable Inventory 44,431 Total Assets 113,004 Current Liabilities 77,374 Total Liabilities 85,991 Sales 511,334 Gross Profit 123,509 5,318 Calculate the number of inventory turns. Company 1 60,792 Current Assets Accounts Receivable Inventory 44,431 Total Assets 113,004 Current Liabilities 77,374 Total Liabilities 85,991 Sales 511,334 Gross Profit 123,509 5,318
Expert Answer:
Answer rating: 100% (QA)
Inventory Turns COGS Average Inventory To find the COGS you can subtract ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
3. b. State the difference between the key inventory indicators; Inventory Turns Ratio and Days of Inventory Outstanding. The income statement of Alexa Corporation from 2019 showed the cost of goods...
-
Case: Publix Super Markets: Its Strategy in the U.S. Supermarket and Grocery Store Industry 5. How well is Publix performing from a financial perspective? Do some number-crunching using the data in...
-
1.8 Figure shows an inductor made up of two C-cores. Each core has area Ac and mean length lc . There are two air gaps, each of length g and effective area Ag. Finally, there are two N-turn coils,...
-
The following data show the curb weight, horsepower, and -mile speed for 16 popular sports and GT cars. Suppose that the price of each sports and GT car is also available. The complete data set is as...
-
You are also considering another project which has a physical life of 3 years; that is, the machinery will be totally worn out after 3 years. However, if the project were terminated prior to the end...
-
Show that the output of an LTI system can be expressed in terms of its unit step response s(n)asfollows. > Is(k) - stk - 1)]x(n - k)
-
Find the area to the right of 46.979 under the chi-square distribution with 30 degrees of freedom.
-
A U.S.-based MNC has a subsidiary in France (local currency, euro, ¬). The balance sheet and income statement of the subsidiary follow. On December 31, 2112, the exchange rate is US$1.20/¬....
-
Oriole Company sold $3,140,000, 9%, 10-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on January 1. The company uses straight-line amortization on bond premiums...
-
Use the pie chart of a person's monthly income. a. Suppose the total monthly income is $5,800. Determine the amounts in each income category. b. Suppose the income from the secondary job was $1,225....
-
If you plan to invest $7000 annually for 5 years and the discount rate is 10%. Required: i) Calculate what is the future value. ii) Briefly explain the time value of money.
-
Hays Company (a successful efforts company) owns 100% WI in a lease that is burdened with a 1/8 royalty interest owned by Alfred Smith. The undeveloped lease has capitalized costs of $40,000 and an...
-
Bryant Oil Company produced a total of 1,000 barrels of oil in June 2022. The expected selling price was $120/bbl. The purchaser pays the severance taxes and the royalty interest owner and remits the...
-
Sam Field, located in northern Alaska, is jointly owned by Smith Company (60% WI) and Joyner Company (40% WI). Smith, which is the operator, estimates that gross gas production during July will be...
-
Referring to the information provided in problem 2, evaluate the following: a. How would a 30 percent ad valorem tariff on power train and chassis imposed by the Vietnam government impact Kubotas...
-
Pam ONeal owns some mineral rights in Oklahoma that she leases to Sunshine Oil Company, reserving a 1/8 royalty interest. During 2021, Sunshine Oil made the following assignments: a. To Ted Mair, an...
-
Assume bonds are issued on January 1, 2022, and pay interest semiannually on January 1 and July 1 in the amount of $100,000. The fiscal year ends on December 31, 2022. How much expenditures would be...
-
Wholesalers Ltd. deals in the sale of foodstuffs to retailers. Owing to economic depression, the firm intends to relax its credit policy to boost productivity and sales. The firms current credit...
-
A small generator is labelled as having an output of 2 kW, 230 V a.c. (at constant frequency). It is used to provide emergency lighting for a large building in the event of a breakdown of the mains...
-
An alarm is too quiet, so a technician adjusts it to produce a louder note of the same pitch. What effect does this have on the amplitude and on the frequency of the sound? amplitude frequency A...
-
The diving bell below contains trapped air at the same pressure as the water outside. At the surface, air pressure is 100 kPa. As the bell descends, the pressure on it increases by 100 kPa for every...
-
Find an example of a large project that took more than a year to complete. You can ask people at your college, university, or work about a recent project, such as a major fundraising campaign,...
-
What is the main purpose of a project quality management plan? What are two metrics besides those provided in this chapter that Kristin and her team could use on the Just-In-Time Training project?
-
Your organization initiated a project to raise money for an important charity. Assume that there are 1,000 people in your organization. Also, assume that you have six months to raise as much money as...
Study smarter with the SolutionInn App