Just a Buck Discount Stores is assessing its levels of inventory for 2009 and 2010 and has

Question:

Just a Buck Discount Stores is assessing its levels of inventory for 2009 and 2010 and has gathered the following data:

2010 2008 2009 Ending inventory Cost of goods sold $ 96,000 480,000 $ 81,000 450,000 $69,000

Compute the inventory turnover and days’ inventory on hand for 2009 and 2010 and comment on the results.

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

Step by Step Answer:

Related Book For answer-question

Financial and Managerial Accounting

ISBN: 978-1439037805

9th edition

Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson

See More Books

Question Posted: Jul 16, 2019 12:02 PM

See More Questions

Condensed income statements for Ken-Du Company for two years are shown below. After the end of 2010, the company discovered that an error had resulted in a $36,000 understatement of the 2009 ending...
Yamaha Corporation and Pioneer Corporation are two large, diversified Japanese electronics companies. Both use the average-cost method and the lower-of-cost-or-market rule to account for inventories....
Eva Prokop is attempting to sell her business to Joseph Kahn. The company has assets of $3,600,000, liabilities of $3,200,000, and stockholders equity of $400,000. Both parties agree that the proper...
A red laser ( lambda r = 6 3 3 nm ) is shone through a narrow slit located 2 m from a screen. When the light source is replaced by a blue laser ( b = 4 8 8 nm ) the position of the first minimum of...
Consider the subspace of the vector space of 2 Ã 2 matrices, M22. Is an element of W? 1] [40] [-3 111 - < 1-11,1 31,12 1 3 =16-4 3
A student insists that log(x/y) and log x/log y are equal. How could you convince the student otherwise?
Thomas Rusnack and his then-wife, Analisa Rusnack, opened a home equity line of credit (HELOC) with Cardinal Bank in August 2003. Between 2003 and 2006, the Rusnacks periodically drew on the HELOC...
Premium Entries and Financial Statement Presentation Sycamore Candy Company offers a CD single as a premium for every five candy bar wrappers presented by customers together with $2.50. The candy...
TheOnlyWizKid, Montclair State University Download and connect to the raw data Market Caps of S_P500 Companies 2008-2015.xls on Canvas>Files> Tableau Data Files using Tableau. The Excel file lists...
Too Young, Inc., has a bond outstanding with a coupon rate of 7.3 percent and semiannual payments. The bond currently sells for $1,870 and matures in 20 years. The par value is $2,000. What is the...
During 2009, Gabriellas Fashion had beginning inventory of $960,000, ending inventory of $1,120,000, and cost of goods sold of $4,400,000. Compute the inventory turnover and days inventory on hand.
Ptak Company operates a large discount store and uses the retail method to estimate the cost of ending inventory . Management suspects that in recent weeks there have been unusually heavy losses from...
Suppose France increases personal income taxes on French residents. Use the real loan able funds market and real goods market to explain the effects this policy is likely to have on the French...
1 . Please discuss about the legal ways that a small business can avoid paying taxes. In your opinion is it ethical or not? 2. Please deeply comment on the following text: Small business owners and...
Integrate: 2x In x dx Integrate: f sin x cos' x dx
Does the process meet the QA criteria? If not, why not? What is the variability within the failure rates, and how does it vary? Are there any trends (time-based, localized, breakdowns, etc.) in the...
By using the article Whitetracks Design, Inc. Hugh Grove Tom Cook Name at least 2 segments of the general environment important to Whitetracks. Note: Ecological is NOT one of them. 2. What are trends...
The first proton beam therapy center has now closed, and in some markets two competing centers have decided to merge. These trends indicate that the market for such facilities has entered which stage...
Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $6,500....
The swap spread is the difference between the swap rate and the equivalent-maturity Treasury bond yield. Explain why a widening swap spread may be a signal of deteriorating economic conditions. Plot...
Based on the data presented in Exercise 1-16, identify those items that would appear on the income statement.
What is the advantage of using comparative statements for financial analysis rather than statements for a single date or period?
What is the advantage of using comparative statements for financial analysis rather than statements for a single date or period?
please use excel to solve this and format it the same way! thank you Paste F17 A > B Arial BIU fx C D 10 A A A E F G ||| H I J K 6 A 20-year, 6% quarterly coupon bond with a par value of $10,000 may...
Should a firm's EBT be based upon the actual or estimated return on plan assets.
You took out a loan woth an effective annual interest rate of 1 6 percent. What is the equivalent quarterly ( 3 month ) interest rate on this loan.

Just a Buck Discount Stores is assessing its levels of inventory for 2009 and 2010 and has

Question:

2010 2008 2009 Ending inventory Cost of goods sold $ 96,000 480,000 $ 81,000 450,000 $69,000

Step by Step Answer:

Just a Buck Discount Stores inventory is increasing much f...View the full answer

Financial and Managerial Accounting

Related Video

Students also viewed these Business questions