Two companies each recorded $10 million in cost of goods sold for the year. Company A had
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
Company As inventory turnover is 10000000100000 or 100 times Co...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Question Posted:
Students also viewed these Managerial Accounting questions
-
A company's cost of goods sold for the year was $97,500. Ending inventory was $12,000 and $13,500 in the current and prior years, respectively. Required Calculate the company's inventory turnover...
-
The actual variable cost of goods sold for a product was $ 70 per unit, while the planned variable cost of goods sold was $68 per unit. The volume increased by 1,200 units to 7,000 actual total...
-
Cost of goods sold for Harlem Tool & Die during 20X1 was $400,000. Beginning inventory was $64,000 and ending inventory was $89,000. Beginning trade accounts payable were $13,000, and ending trade...
-
Blaine is a practicing dentist. He operates his business from the basement of his house, with a separate entrance and facilities. Blaine uses the simplified method every year to calculate his...
-
Tanya Fletcher owns undeveloped land (adjusted basis of $80,000 and fair market value of $92,000) on the East Coast. On January 4, 2016, she exchanges it with Lisa Martin (an unrelated party) for...
-
Hoover Electronics has beginning inventory of 22 ,000 units, will sell 60,000 units for the month, and desires to reduce ending inventory to 30 percent of beginning inventory. How many units should...
-
Explore the website of the UN Global Compact initiative, at https://www.unglobalcompact.org/. Click on the heading Engage Locally, and explore some of the companies in your part of the world that...
-
Rosss Ripstick Companys long-term debt agreements make certain demands on the business. For example, Ross may not purchase treasury stock in excess of the balance of retained earnings. Also,...
-
10.Carp Co has announced that it will pay an annual dividend equal to 55% of earnings. Its earnings per share is $0.80, and it has ten million shares in issue. The return on equity of Carp Co is 20%...
-
The following table, based on data reported in the literature [HEAT84], shows the execution times, in seconds, for five different benchmark programs on three machines. a. Compute the speed metric for...
-
The cost of Wright Corp.s inventory at the end of the year was $75,000; however, due to obsolescence, the cost to replace the inventory was only $55,000. Identify and analyze the adjustment needed at...
-
Grogans inventory increased by $50,000 during the year, and its accounts payable increased by $35,000, indicate how each of those changes would be reflected on a statement of cash flows prepared...
-
How do the concepts of theater, role theory, and script theory help to provide insights into consumer behavior during the service encounter?
-
In approximately fifteen hundred words describe what is your workplace DEI philosophy/true north and how will you apply lessons as a DEI practitioner (in current or previous role) to improve the...
-
Assets, on the other hand, are resources and capabilities the firm possesses that enable it to perform its activities and to do so profitably. They can be tangible assets such as locations,...
-
12. Anderson claims that the "code of the street is a kind of social exchange that allows for a certain order in the community." How does the "code" establish and maintain order? How does it erode or...
-
Does turn it in index similarity 0 mean i did something wrong? I had references cited but i still received?
-
Legally Required Benefits.Legally required benefits may be a hindrance to companies in the short term because the offerings require substantial employee expenditures. What else could employers do...
-
The format of a cash budget is: (a) Beginning cash balance + Cash receipts + Cash from financing - Cash disbursements = Ending cash balance. (b) Beginning cash balance + Cash receipts - Cash...
-
Without solving, determine the character of the solutions of each equation in the complex number system. 3x 2 3x + 4 = 0
-
Can you give some examples of items of cost that are likely to be fixed for a hairdressing business? Try to think of at least two.
-
You are the controller for Georgetown Company. At the end of its first year of operations, the company is experiencing cash flow problems. The following information has been accumulated during the...
-
As controller of a widely held public company, you are concerned with making the best decisions for the stockholders. At the end of its first year of operations, you are faced with the choice of...
-
As a newly hired staff accountant, you are assigned the responsibility of physically counting inventory at the end of the year. The inventory count proceeds in a timely fashion. The inventory is...
-
On-campus corporate presentations: Sympathy for the Devil Many students complain about the high number of corporate presentations taking place both on- and off-campus. In this question, we seek to...
-
How do organizations cultivate a culture of open innovation, leveraging crowdsourcing platforms, collaborative networks, and cross-industry partnerships to harness external knowledge and drive...
-
Braeden Sim is the accountant for Sim's Internet Service. From the following information, his task is to construct a balance sheet as of April 30, 201X, in proper form. Could you help him? (Click the...
Study smarter with the SolutionInn App