Question: Financial statement data at December 31 for Ecco Company are shown below. Cost of merchandise sold $552,500 Inventories: Beginning of year 200,000 End of year

below. Cost of merchandise sold $552,500 Inventories: Beginning of year 200,000 End

of year 140,000 Determine the number of days' sales in inventory for

the year a. 132.1 days b. 92.5 days C. 39.6 days d.

Financial statement data at December 31 for Ecco Company are shown below. Cost of merchandise sold $552,500 Inventories: Beginning of year 200,000 End of year 140,000 Determine the number of days' sales in inventory for the year a. 132.1 days b. 92.5 days C. 39.6 days d. 112.3 days

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!

Financial statement data at December 31 for Ecco Company are as follows: Line Item Description Amount Cost of goods sold $693,500 Inventories: Beginning of year 220,000 End of year 120,000 Determine...

Financial statement data for years ending December 31 for Amsterdam Company follow: Cost of merchandise sold Inventories: Beginning of year End of year 2014 20Y3 20Y4 Inventory Turnover 20Y4 $776,720...

Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 $3,791,255 Cost of goods sold Inventories: Beginning of...

Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Amsterdam Company follow: Cost of merchandise sold Inventories: Beginning of year End of year...

Financial statement data at December 31 for Alpine Company are as follows: Line Item Description Amount Cost of goods sold $1,168,000 Inventories: Beginning of year 380,000 End of year 320,000...

I have completed the spreadsheet portion of this assignment, but need help with the written aspects of it. SUBDOMAIN 319.1 - ACCOUNTING & FINANCE SUBDOMAIN 319.2 - INFORMATION TOOLS Competency...

The following financial statement data at December 31 are for Ecco Company: Cost of merchandise sold $557,500 Inventories: Beginning of year 204,000 End of year 144,000 Determine the days' sales in...

5-9 Inventory Turnover and Number of Days Sales in Inventory The following financial statement data for years ending December 31 for Gillispie Company are shown below. Cost of merchandise sold...

help me please ! Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 $3,864,000 Cost of goods sold...

The concert production company of Exercise 2 made a second scatterplot, this time relating Total Revenue to Ticket Sales. a) Describe the relationship between Ticket Sales and Total Revenue. b) How...

In what situations would using memory as a RAM disk be more useful than using it as a disk cache?

In simple linear regression, if the slope is positive, then the coefficient of correlation must also be ________.

accounting 48. LO.2, 4 Ridge is a generous individual. During the year, he made interest-free loans to various family members when the Federal rate was 3%. What are the tax consequences of the...

By utilizing institutional theory, explain how institutional factors and labor laws in particular have influenced HRM in HMG and the role of organizational context in decision-making.

Recognize the importance of analyzing the context and adopting a contextual HRM approach.

Realize the significance of strategic HRM as a foundation for having a strong business.