Selected data from the 2019 financial statements of KRJ Manufacturing are presented below. On the company's...
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Selected data from the 2019 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for inventory? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%. Sales $18,197 Cost of goods sold $6,087 Salaries expense $3,931 Tax expense $1,275 Net income $850 Cash $144 Accounts receivable $578 Inventory $456 Net fixed assets $2,255 Total assets $6,545 Accounts payable $439 Accrued expenses $314 Long-term debt $1,247 Total liabilities $4,890 Cash flow from operations $3,477 Selected data from the 2019 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for inventory? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%. Sales $18,197 Cost of goods sold $6,087 Salaries expense $3,931 Tax expense $1,275 Net income $850 Cash $144 Accounts receivable $578 Inventory $456 Net fixed assets $2,255 Total assets $6,545 Accounts payable $439 Accrued expenses $314 Long-term debt $1,247 Total liabilities $4,890 Cash flow from operations $3,477
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Answer To calculate the percentage of inventory on the commonsized balance sheet we need to ... View the full answer
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
Posted Date:
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