how do you compute inventory turnover
how do you compute inventory turnover
Homework Answers
Ans: To compute inventory turnover ratio is computed by dividing the cost of goods sold with average inventory:
Cost of goods sold is the difference between sales and Gross profit
whereas average inventory is calculated by (averaging the beginning inventory and closing inventory):
Average inventory= (opening inventory+ closing inventory)/2
So inventory turnover= Cost of goods sold/ inventory average
And the ratio is expressed in times
How do you figure out inventory turnover ratio and average days to sell inventory for a...
How do you figure out inventory turnover ratio and average days to sell inventory for a company?
Required Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018. Compute the...
Required
Compute the accounts receivable turnover for 2018.
Compute the inventory turnover for 2018.
Compute the net margin for 2017.
Selected data from Rooney Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $407,000 (20,350) $386,650 $478,000 2017 $375,000 (15,000) $360,000 $445,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,018,000 Net cash sales 410,000 Net sales 2,428,000 Cost of goods...
For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts receivable turnover, (d) inventory turnover
Required: 1a. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts receivable turnover, (d) inventory turnover, (e) days' sales in inventory, and (f) days' sales uncollected. (Do not round intermediate calculations.) 1b. Identify the company you consider to be the better short-term credit risk.
What are the inventory turnover and days' sales in inventory for the year? Compute Newsworthy Publishing Press's invent...
What are the inventory turnover and days' sales in inventory for the year? Compute Newsworthy Publishing Press's inventory turnover for the year. Select the labels and enter the amounts to compute the inventory turnover. (Round your answer to two decimal places, X.XX.) Inventory turnover times Compute Newsworthy Publishing Press's days' sales in inventory for the year. Select the labels and enter the amounts to compute the days' sales in inventory for the year. (Enter any amounts in the formula to...
Google’s inventory turnover ratio is much smaller than that for all comparison groups. Why do you...
Google’s inventory turnover ratio is much smaller than that for all comparison groups. Why do you think this is?
MBA 6-10 Average inventory 11,488 11,039 1. Compute the accounts receivable turnover for Years 1 and...
MBA 6-10
Average inventory 11,488 11,039 1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place. 2. Compute the days' sales in receivables for Years 1 and 2. Round to the nearest day, 3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place. 4. Compute the days' sales in Inventory for Years 1 and 2. Round to one decimal place. 5. Compute the return on sales for Years 1...
mnment Exercise 5-13 Inventory turnover and days' soles in inventory LO AS The following is information...
mnment Exercise 5-13 Inventory turnover and days' soles in inventory LO AS The following is information for Palmer Co. 2017 2016 2016 2015 $568,825 $351,650 Cost of goods sold Ending inventory $316, 380 99, 103,900 94,252 Use the above information to compute inventory turnover for 2017 and 2016, and its days' sales in inventory a 2016. (a) Use the above information to compute inventory turnover for 2016, and its days' sales in inventory at December 31, 2016. Numerator Denominator Ratio...
Please help with figuring the Inventory Turnover. I'm not sure what I'm doing wrong. Thank you!...
Please help with figuring the Inventory Turnover. I'm
not sure what I'm doing wrong.
Thank you!
Check my work mode: This shows what is correct or incorrect for the work you have completed s Selected financial data for Quick Sell, Inc., a retail store, appear as follows. Sales (all on account) Cost of goods sold Average inventory during the year Average receivables during the year Year 2 $ 799,000 411,000 195,000 150,000 Year 5 682,000 351,000 185,000 100,000 a-1. Compute...
Exercise 5-13 Inventory turnover and days' sales in inventory LO A3 The following is Information for...
Exercise 5-13 Inventory turnover and days' sales in inventory LO A3 The following is Information for Palmer Co. Cost of goods sold Ending inventory $ 643,825 97,422 2016 $426,650 87,750 2015 $ 391,300 92,500 Use the above Information to compute Inventory turnover for 2017 and 2016, and its days' sales In Inventory at December 31, 2017 and 2016. % Answer is not complete. (a) Use the above information to compute inventory turnover for 2016, and its days' sales in inventory...
Use the following information for Shafer Company to compute inventory turnover for year 2. Year 2...
Use the following information for Shafer Company to compute inventory turnover for year 2. Year 2 Year 1 Net sales $ 657,500 $ 584,900 Cost of goods sold 390,500 361,040 Ending inventory 79,700 81,380 4.85 5.85 4.00 8.25 7.19
Required
Compute the accounts receivable turnover for 2018.
Compute the inventory turnover for 2018.
Compute the net margin for 2017.
Selected data from Rooney Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $407,000 (20,350) $386,650 $478,000 2017 $375,000 (15,000) $360,000 $445,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,018,000 Net cash sales 410,000 Net sales 2,428,000 Cost of goods...
What are the inventory turnover and days' sales in inventory for the year? Compute Newsworthy Publishing Press's inventory turnover for the year. Select the labels and enter the amounts to compute the inventory turnover. (Round your answer to two decimal places, X.XX.) Inventory turnover times Compute Newsworthy Publishing Press's days' sales in inventory for the year. Select the labels and enter the amounts to compute the days' sales in inventory for the year. (Enter any amounts in the formula to...
MBA 6-10
Average inventory 11,488 11,039 1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place. 2. Compute the days' sales in receivables for Years 1 and 2. Round to the nearest day, 3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place. 4. Compute the days' sales in Inventory for Years 1 and 2. Round to one decimal place. 5. Compute the return on sales for Years 1...
mnment Exercise 5-13 Inventory turnover and days' soles in inventory LO AS The following is information for Palmer Co. 2017 2016 2016 2015 $568,825 $351,650 Cost of goods sold Ending inventory $316, 380 99, 103,900 94,252 Use the above information to compute inventory turnover for 2017 and 2016, and its days' sales in inventory a 2016. (a) Use the above information to compute inventory turnover for 2016, and its days' sales in inventory at December 31, 2016. Numerator Denominator Ratio...
Please help with figuring the Inventory Turnover. I'm
not sure what I'm doing wrong.
Thank you!
Check my work mode: This shows what is correct or incorrect for the work you have completed s Selected financial data for Quick Sell, Inc., a retail store, appear as follows. Sales (all on account) Cost of goods sold Average inventory during the year Average receivables during the year Year 2 $ 799,000 411,000 195,000 150,000 Year 5 682,000 351,000 185,000 100,000 a-1. Compute...
Exercise 5-13 Inventory turnover and days' sales in inventory LO A3 The following is Information for Palmer Co. Cost of goods sold Ending inventory $ 643,825 97,422 2016 $426,650 87,750 2015 $ 391,300 92,500 Use the above Information to compute Inventory turnover for 2017 and 2016, and its days' sales In Inventory at December 31, 2017 and 2016. % Answer is not complete. (a) Use the above information to compute inventory turnover for 2016, and its days' sales in inventory...
Most questions answered within 3 hours.
-
5. Discuss the use of fault tree analysis (FTA) for risk
assessment (maximum one paragraph).
asked 36 minutes ago -
Given that a sample of aluminium oxide has a Young's modulus of
393 GPa and a...
asked 2 hours ago -
At a certain temperature, the equilibrium constant, Kc, for this
reaction is 53.3.
H2(g)+I2(g)−⇀↽−2HI(g)Kc=53.3
At this...
asked 3 hours ago -
Question1 ) The STL provides similiar classes called stack and
queue, both of which gave functions...
asked 4 hours ago -
For Questions 1-4, assume you have 5 bits available:
1. For (positive) integers: What is the...
asked 4 hours ago -
convert grams into vloume with the density of water being at
.997514 g/cm^3 at 23.1 Celsuis...
asked 6 hours ago -
Foreman company obtained a $20,000, 6% loan on May 1, 2018.
Principal and interest will be...
asked 6 hours ago -
5. Problem 11.05 (Discounted Payback)
eBook
Project L costs $60,000, its expected cash inflows are $14,000
per...
asked 7 hours ago -
1. Which of the following is true about politics and health
organizations?
A. Health organizations are...
asked 7 hours ago -
A space vehicle is coasting at a constant velocity of 18.1 m/s
in the +y direction...
asked 8 hours ago -
5) Use the following balanced equation to answer questions
(a)-(i).
3 Cu(s) + 8 HNO3(aq) →...
asked 8 hours ago -
A three-year maturity bond with a 12% annual coupon rate is
currently traded at par $1000...
asked 8 hours ago