Question: Question #2 20 marks Part A and Part B are independent. Part A. (15 marks) Revenues CGS [ Time Period Fiscal year 2017 1* quarter

Question #2 20 marks Part A and Part B are independent.

Question #2 20 marks Part A and Part B are independent. Part A. (15 marks) Revenues CGS [ Time Period Fiscal year 2017 1* quarter 2018 2nd quarter 2018 3rd quarter 2018 4th quarter 2019 Fiscal year 2018 $430 799 619 421 2,269 $305 503 419 317 1544 $1588 729 720 627 606 606 (i) Using the fiscal year (annual) information for 2018, calculate GP percentage and inventory turnover ratio Inventory turnover = CGS/ av. Inv (2 marks) (ii) (4 marks) Calculate GP percentage by quarter 1* quarter GP percentage = 2nd quarter GP percentage = 3rd quarter GP percentage = 4th quarter GP percentage = Recalculate inventory turnover ratio for 2018 using a weighted average of inventory over the year as follows: Use an average of averages. (See lesson notes # 10, example 5). (6 marks) Comment on your results

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!

Question #2 20 marks Part A and Part B are independent. Part A. (15 marks) Time Period Revenues CGS EI Fiscal year 2017 - - $1588 1 st quarter 2018 $430 $305 729 2 nd quarter 2018 799 503 720 3 rd...

Question \#1. 20 marks Part A and Part B are independent. Part A. (15 marks) (i) Using the fiscal year (annual) information for 2018, calculate GP percentage and inventory turnover ratio Inventory...

QUESTION 2 (20 marks) Part A (15 marks) The marketing and promotion department of Paul Corporation has submitted the following sales forecast for the upcoming fiscal year 3 Quarter 4h Quarter 15,000...

There is a case question (very last question) in the document below and i would like to know how to resolve it properly University of Toronto Faculty of Arts and Science and Rotman School of...

BUSINESS 275, WINTER 2016 ASSIGNMENT #2: LINEAR PROGRAMMING Administrative Matters 1.1 Deadline This assignment is due by 11 AM on Wednesday, March 23, 2016 in the correct labeled drop box outside...

Hello could you please answer the following questions and give steps as to how you came to these answers and how to solve them for the correct answer, I'm having difficulty with these review...

Facebook and Google have become the largest advertising agencies in the world and theyve apparently done it by hoodwinking publishers. But a series of court cases in the US may cause this dubious...

Discuss the relative advantages and disadvantages of stemand leaf diagrams versus frequency histograms.

For the data given in Problem 11.56, calculate the rate of change in enthalpy of the air traveling through the air conditioner. Use the psychrometric chart. In problem 11.56 Wall AC 18 C 30 C 40% 90%...

The 2 0 1 0 Wall Street Reform and Consumer Protection Act called for the extension of regulatory oversight to Multiple choice question. exchange - traded derivative securities . over - the - counter...

1. Discuss the four components of language.

g. What do your findings suggest about the power of the media and their effect on identity formation and intercultural communication? (Think about avowal, ascription, and interpellation.)

f. What stereotypes were reinforced in the commercials?