A company produces the following information concerning inventory turnover. If the Year 2 average inventory is double

Question:

A company produces the following information concerning inventory turnover.

If the Year 2 average inventory is double Year 1's and the cost of goods sold is increased to $960,000, what will the inventory turnover in Year 2 be?

A. 8 times

B. 10 times

C. 16 times

D. 20 times.

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

Step by Step Answer:

Related Book For book-img-for-question

Accounting For Cambridge International AS And A Level

ISBN: 9780198399711

1st Edition

Authors: Jacqueline Halls Bryan, Peter Hailstone

See More Books

Question Posted: Sep 17, 2021 01:41 AM

See More Questions

Inventory and cost of goods sold information for Lafleche Inc. is provided below: Required: a. Calculate the inventory turnover ratio and average number of days in inventory under the two cost...
Inventory turnover is calculated as cost of goods sold divided by ending inventory . 1. True 2. False
Tolerance next to dimensions are: 1. Specific 2. Reference 3. Exact 4. General
The Kc for the following reaction is 9.30 X 10^-2 at 25C:PCl5(g) <-> PCl3(g) + Cl2(g) How many moles & grams of PCl5 must be added to a 2-literflask to obtain a Cl2 concentration of 0.150M...
How is the middle class microculture evolving in various regions of the world?
Partridge Theatre Inc. owns and operates movie theaters throughout Texas and Oklahoma. Partridge Theatre Inc. has declared the following annual dividends over a six year period: 2009, $18,000; 2010,...
A small solenoid is inserted into a larger solenoid (Figure P28.60). The current in the small solenoid is from A to B. (a) Determine the initial direction of the magnetic dipole moment of the small...
For each lettered space in the following table, determine the appropriate dollar amount: Total Quantity of Fixed Average Output, Cost Fixed Total Variable Variable Cost Total CostMarginal...
9. An arrow 2.5 cm high is placed at a distance of 25 cm from a diverging mirror of focal length 20 cm., Find the nature, position and size of the image formed. 10. The image formed by a convex...
1. Determine la fuerza en cada elemento de la armadura Howe para techo que se muestra en la figura. Establezca si los elementos estn en tensin o en compresin. 600 lb 300 lb AQ 600 lb C L-SA-S D E 600...
In the books of a partnership, what should the ledger entries for interest on drawings be? A. Debit: appropriation account Credit: partners' current accounts B. Debit: partners' current accounts...
In the books of a partnership, what should interest on drawings be debited to? A. The appropriation account B. The bank account C. The partners' current accounts D. The partners' drawings accounts
On January 1, 2015, Durdil Co. borrowed and received 500,000 from a major customer evidenced by a zero-interest-bearing note due in 3 years. As consideration for the zero-interest-bearing feature,...
The performance reporting that my current organization utilized is Variance Analysis for Direct Materials and Direct labor. This is because we are a manufacturer which means we manufacture our own...
What is the future value of $6300 invested for 9 years at 6.2 percent compounded annually? Round to the nearest penny. Your Answer: Answer Question 13 (1 point) You begin saving for your retirement...
Write a MIPS procedure that performs the 1D sum of absolute differences (SAD) of two byte arrays: int sad (char *array1, char *array2, int len) { char sum = 0; for (int i=0; i
Suppose you wished to analyze the impacts of an increase in the tax on gasoline in the U.S using a simple partial equilibrium model. According to the U.S. Department of Transportation, 159.2 million...
Required: Prepare the statement of profit or loss and other comprehensive income (by nature) and the statement of changes in equity for the year ended 31 October 2019 and statement of financial...
At the end of the year, when closing the books, what is the treatment for immaterial standard variance account balances? What is the treatment for standard variance account balances that are material...
Answer the following two independent questions. a. MM Corporation is considering several proposed investments for the coming budget year. MM produces electrical apparatus for industrial complexes....
Whos in favor of network neutrality? Whos opposed? Why?
What would be the impact on individual users, businesses, and government if Internet providers switched to a tiered service model for transmission over land lines as well as wireless ?
It has been said that net neutrality is the most important issue facing the Internet since the advent of the Internet. Discuss the implications of this statement.
1) Do some thinking about CL and CLalt. How might these concepts be applied to situations beyond close relationships? You might think outside the box to see how far these concepts might be stretched.
Felipe Lemos is currency strategist with the Miami-based hedge fund Kawa. With the annual interest rate at 8.5 percent for real denominated deposits with AAA-rated Brazilian banks, Felipe is...
Discuss development and growth of derivative markets in the US.

A company produces the following information concerning inventory turnover. If the Year 2 average inventory is double

Question:

Year 1 average inventory Inventory turnover $60 C00 10 times

Step by Step Answer:

In year 1 average inventory A 60000 Inventory turnov...View the full answer

Accounting For Cambridge International AS And A Level

Related Video

Students also viewed these Business questions