The Robinson Company had a cost of goods sold of $1,000,000 in 2019 and $1,200,000 in 2020.
Question:
The Robinson Company had a cost of goods sold of $1,000,000 in 2019 and $1,200,000 in 2020.
a. Calculate the inventory turnover for each year. Comment on your findings.
b. What would have been the amount of inventories in 2020 if the 2019 turnover ratio had been maintained?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
a 2019 1000000350000 286 2020 12000005000...View the full answer
Answered By
Arshad Ahmad
Well, I am really new to tutoring but I truly believe a good student can be a better teacher. I have always been a topper at school. I passed my Chartered Accountancy at a very young age of 23, a rare feat for most of the students. I am really dedicated to whatever work I do and I am very strict regarding deadlines. i am always committed and dedicated to whatever work allotted to me and I make sure it is completed well within deadline and also I try to give my best in whatever I do. Hope we will have a good time studying together.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Introduction To Finance Markets, Investments, And Financial Management
ISBN: 978-1119561170
17th Edition
Authors: Ronald W. Melicher, Edgar A. Norton
Question Posted:
Students also viewed these Business 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...
-
Suppose the Robinson Company had a cost of goods sold of $1,000,000 in 2019 and $1,200,000 in 2020. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have...
-
Suppose the Robinson Company had a cost of goods sold of $1,000,000 in 2013 and $1,200,000 in 2014. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have...
-
Solve each system. If a system is inconsistent or has dependent equations, say so. -5x + 2y = -4 6x + 3y = -6
-
A simple random sample of 800 elements generates a sample proportion = .70. a. Provide a 90% confidence interval for the population proportion. b. Provide a 95% confidence interval for the...
-
HONDA Inc. is using Just-in-Time Production System and Backflush Cost Accounting System for the year ended December 31, 2016. The following information was provided for the year 2016: A. Raw...
-
Schenk, Inc., sells desk lamps and desks. The following information is from the June income statement. Schenks management is interested in knowing the number of lamps and desks it must sell to earn...
-
The Bay City Parks and Recreation Department has received a federal grant of $600,000 to expand its public recreation facilities. City council representatives have demanded four different types of...
-
El presupuesto de ventas de su empresa para el pr ximo a o se basa en una tasa de crecimiento trimestral de 1 0 por ciento, con una proyecci n de ventas para el primer trimestre de $ 2 2 5 . 1...
-
Financial researchers at Smith Sharon, an investment bank, estimate the current security market line as: E(R i ) = 4.5 + 6.8( i ) a. Explain what happens to expected return as beta increases from 1.0...
-
This problem uses the financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 from Problem 6. a. Calculate Genatrons dollar amount of net working capital in each...
-
Anthony is going to drive a flat-bed truck up a hill that makes an angle of 10 with respect to the horizontal direction. A 36.0 kg package sits in the back of the truck. The coefficient of static...
-
1.Two charged parallel plates separated by a distance of 2.00 cm. If the potential difference between the plates is 300 V, what is the value of the electric field between the plates? 2. Find the...
-
Given the following C++ source code: #include using namespace std; int main() { } string *str; str =new string [5]; str[0]="orchird"; str[1]="Chrysanthemum"; str[2] "Lavender"; str[3] "Jasmine";...
-
Available until Apr ud Select a national or global business leader. Describe their career and personal background, their industry and education. Discuss their major accomplishments and challenges...
-
a) Construct DFA for the following languages given, = {0, 1}. i) Where L(M2)={w|w contains at least two 0's} (ii) Which accepts the regular language of all strings that ends with the substring 1001.
-
FM How much force (FM) must the biceps muscle exert when holding a 28 N weight in the hand with the arm horizontal, as shown in the figure? Assume that the combined weight of the forearm and hand is...
-
A rectangular lot running N-S and E-W is 150 by 100 ft. To locate contours it is divided into 50-ft square blocks, and the following horizontal rod readings are taken at the corners successively...
-
What is the back work ratio? What are typical back work ratio values for gas-turbine engines?
-
As an economist for a major bank, you are asked to explain a substantial increase in the price level when neither the money supply nor the velocity of money has increased. How can this occur?
-
A one-year U.S. Treasury security has a market interest rate of 2.25 percent. If the expected real rate of interest is 1.5 percent, what is the expected annual inflation rate?
-
A 20-year U.S. Treasury bond has a 3.50 percent interest rate, while a same maturity corporate bond has a 5.25 percent interest rate. Real interest rates and inflation rate expectations would be the...
-
26. (15 pts) You are a financial advisor who specializes in fixed income assets. Your client has a large investment in one single bond securities, and is worried about interest rate risk, given the...
-
Solve with Rmarkdown and show with Rcode and provide explanation. Textbook: Applied Linear Regression Models 4th Edition by Kutner et al. Question 6.1
-
The yield to maturity on 1 - year zero - coupon bonds is currently 4 . 5 % ; the YTM on 2 - year zeros is 5 . 5 % . The Treasury plans to issue a 2 - year maturity coupon bond, paying coupons once...
Study smarter with the SolutionInn App