Question: A local convenience store, Jr's, has an average retail inventory of $40,000. Their yearly retail. Sales are approximately $600,000. What is the inventory turnover?

A local convenience store, Jr's, has an average retail inventory of $40,000. Their yearly retail. Sales are approximately $600,000. What is the inventory turnover?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

This comprehensive problem involving Miller Design Studio covers all the learning objectives in this chapter and in the chapters on measuring business transaction and measuring business income. To...

Case study Question: 1. By refering online and offline resource, update information about 7-Eleven and its supply chain. Elaborate members participating in 7-Eleven's supply chain. 2. Which...

Question: What are the significances of 7dream.com and add services to 7-Eleven supply chain? 1. Challenges to supply chain of convenient retailing Convenient retailing respond small purchasing...

Question: Supply chain of 7-Eleven Japan 1. Challenges to supply chain of convenient retailing Convenient retailing respond small purchasing directly of final consumers, accommodating both personal...

Question: 1. Challenges to supply chain of convenient retailing Convenient retailing respond small purchasing directly of final consumers, accommodating both personal and household needs. This type...

Case study Question: 4. What are the significances of 7dream.com and added services to 7-Eleven supply chain? 5. Analyze benefits of information technology application to relationship management in 7...

According to the article "FamilyMart:Internet Plus Strategy" provided below, please answer the following questions in detail: a. What is the best plan of action if FamilyMart is to engage in online...

Consider a single period problem where demand has probability density function f(.), the item costs c dollars per unit, sells for a price of p dollars per unit and has a disposal value at the end of...

Mountain Man Brewing Company: Bringing the Brand to Light It was February 20, 2006, in the New River coal region of West Virginia. Chris Prangel, a recent MBA graduate, had returned home a year...

i neeed this answer to this question and this question alone i will paypal you 200 dollars if you give it to me in percentage. 2. Under the status quo, what will MM Lager's sales revenues and E.C....

The following numbers were calculated from the financial statements for a firm for 2009 and 2008: Calculate core return of net operating assets (core RNOA) and show how much of its change from 2008...

3. As part of the wave of "deregulation" of financial markets in the 1980s, banking laws were changed to allow commercial banks in the United States to offer relatively liquid savings accounts that...

Financial managers should primarily focus on the interests of: Multiple Choice the vice president of finance. the board of directors. their immediate supervisor. shareholders. themselves. Prev 1 2 of...

1. The 100-employee information technology department of a financial services company had a high turnover rate. A survey of employees revealed that the reason most left was dissatisfaction with the...

Poindexters electric stove short circuited out and a fire ensued. The flames spread over the stove top and onto adjacent countertops eventually destroying wooden storage cabinets on either side of...

An American firm has the opportunity to acquire a target company in Mexico. The firm anticipates owning the subsidiary for 8 years. Is this a profitable investment, and if so, what is the projected...

Design sag rods to support the purlins of an industrial building roof whose span and slope are shown in the accompanying figure. Sag rods are placed at 1 points between roof trusses, which are spaced...

The spot rate between the Mexican peso and the U.S. dollar is Ps11.25 per $1. The expected inflation rate in the U.S. is 2 percent and the U.S. Treasury bill is yielding 5 percent. The risk-free rate...

Follower receptivity is an outcome of servant leadership. True False

How can you drive more traffi c to your Web site or to your communication channels?

Your boss lets you know that you keep arriving late to staff meetings, and this creates problems for everyone in att endance.

A work colleague criticizes you for your sloppy follow-through: you promised to do something and you didnt.