Refer to the information in Exercise 17-9 and calculate the days sales in inventory for Furniture Retailers
Question:
Refer to the information in Exercise 17-9 and calculate the days’ sales in inventory for Furniture Retailers and Custom Furniture Corp for 2023 (round to two decimal places). Which company has the more favourable ratio? Explain why.
Data From Exercise 17-9
Transcribed Image Text:
Computer Inc. Furniture Retailers 2023 2022 2023 2022 Cost of goods sold $1,491 $1,009 $3,345 $2,270 Inventory 258 222 271 130 (millions of $) Fresh-Cut Flowers Inc. Custom Furniture Corp 2023 2022 2023 2022 $2,040 22 $2,685 9 $2,670 87 $1,770 174
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
Cost of goods sold Inventory Furniture Retailers 2023 3345 271 Custom Furniture Corp 2023 2...View the full answer
Answered By
Gauri Hendre
I worked as EI educator for Eduphy India YT channel. I gave online tutorials to the students who were living in the villages and wanted to study much more and were preparing for NEET, TET. I gave tutions for topics in Biotechnology. I am currently working as a tutor on course hero for the biochemistry, microbiology, biology, cell biology, genetics subjects. I worked as a project intern in BAIF where did analysis on diseases mainly genetic disorders in the bovine. I worked as a trainee in serum institute of India and Vasantdada sugar institute. I am working as a writer on Quora partner program from 2019. I writing on the topics on social health issues including current COVID-19 pandemic, different concepts in science discipline. I learned foreign languages such as german and french upto A1 level. I attended different conferences in the science discipline and did trainings in cognitive skills and personality development skills from Lila Poonawalla foundation. I have been the member of Lila poonawalla foundation since 2017. Even I acquired the skills like Excel spreadsheet, MS Office, MS Powerpoint and Data entry.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
Question Posted:
Students also viewed these Business questions
-
Refer to the information in Exercise 17-6 and calculate the days sales in inventory for Furniture Retailers and Custom Furniture Corp for 2020 (round to two decimal places). Which company has the...
-
Refer to the information in Exercise 4-20. You, business analyst at Second Cup Ltd. have been asked to calculate the debt to equity ratio (round to two decimal places). Provide your manager with...
-
Calculate the days sales in inventory for Furniture Retailers and Furniture Unlimited for 2014 (round to two decimal places). Which company has the more favourable ratio? Explainwhy. (millions of $)...
-
14. The molecule that has formula C,H, with 2 sp C's, 2 sp C's, and 1 sp C and chiral isomer is H CH3 CH3 (a) (c) H H HC H C=C=C CH 3 C=C=C H CH3 (b) (d) HC=C H HCCC=C CH3 H CHCH3
-
According to the data model, is it required that every entity instance in the PRODUCT table be associated with an entity instance in the CD table? Why or why not?
-
A sporting goods manufacturing company wanted to compare the distance traveled by golf balls produced using four different designs. Ten balls were manufactured with each design and were brought to...
-
What is ITSM?
-
The 2009 Annual Report of McDonald's Corporation contains the following information. InstructionsCompute the following ratios for McDonald's for 2009.(a) Asset turnover ratio.(b) Rate of return on...
-
The balance in the supplies account, before adjustment at the end of the year, is $3,890. What is the amount of the adjustment if the amount of supplies on hand at the end of the year is $1,830? b....
-
The following data are taken from the comparative balance sheets of Duncan Data Storage Company. Calculate the accounts receivable turnover for 2023 and 2022 (round to two decimal places). Is the...
-
Web Structure Inc. calculated the ratios shown below for 2023 and 2022: *F = Favourable; U = Unfavourable Required 1. Identify whether the change in the ratios from 2022 to 2023 is favourable (F) or...
-
In Problem, find the indicated quantities for y = f (x) = 3x2. x, y and y/x; given x1 = 2 and x2 =5
-
Extrude-rite Corporation, a manufacturer of industrial machinery and components for the plastics industry, has recently had several product quality problems. These have occurred both before and after...
-
Peter Weaver doesn't like to follow the crowd. He thinks groupthink is a common problem in many organizations. This former director of marketing for a consumer products company believes differences...
-
Former NBA basketball coach Phil Jackson wrote "Good teams become great ones when the members trust each other enough to surrender the 'me' for the 'we.' As Bill Cartwright puts it: 'A great...
-
Smith (2015) shows the importance of rationahisations that VW employees might use to justify the misconduct to themselves and also in front of others. For instance, some may say, "Everybody is doing...
-
as the Senior Physician assigned to the newly formed Quality Improvement Committee at Medical Associates. You are proposing a systems-thinking approach to Medical Associates' recent challenges. What...
-
What two principles does the law of intellectual property try to balance?
-
An example of prescriptive analytics is when an action is recommended based on previously observed actions. For example, an analysis might help determine procedures to follow when new accounts are...
-
Using the data in situation (a) of Exercise 11-7, prepare the employers September 30 journal entry to record the employers payroll taxes expense and its related liabilities. Round amounts to cents....
-
During the month of January, an employer incurred the following payroll taxes: FICA Social Security taxes of $372, FICA Medicare taxes of $87, FUTA taxes of $36, and SUTA taxes of $324. Prepare the...
-
During the month of January, an employee earned $4,000 of salary. Withholdings from the employees salary consist of FICA Social Security taxes of $248, FICA Medicare taxes of $58, federal income...
-
ty" -tyy = 0, y(0) = 0, y'(0) = 3. (1) 1. Apply the properties of Laplace transform to show that the Laplace transform of the solutions Y(s) satisfies the the first order DE (s - 1)Y' (s) + 2Y(s) =...
-
Solve the following equation. 2/3 (x-4)3 =3
-
Prepare an Income Statement and a Balance Sheet. Section 8.4 Page 314 Exercise 5 Vieira Associates Trial Balance Work Sheet Adjustments Year Ended December 31, 20-- ACCOUNTS Debit Credit Debit Credit...
Study smarter with the SolutionInn App