Homework Answers
| A 144.27 days | |
| Statement showing Computations | |
| Particulars | Amount |
| Beginning Merchandise inventory | 325,000.00 |
| Ending Merchandise Inventory | 625,000.00 |
| Average merchandise inventory (325000 + 625000)/2 | 475,000.00 |
| Cost of Goods sold | 1,200,000.00 |
| Inventory Turnover = 1200,000/475,000 | 2.53 |
| Avg no of days inventory held = 365/2.53 | 144.27 |
Add Answer to:
count balances for 2018 Keleyin. provided the following Con of Goods Sold cost of Ben Vertrandse...
5. Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of...
5. Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory AED 1,300,000 330,000 350,000 Calculate the average number of days that inventory was held by Kelley, Inc. during 2018, (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.)_ Days.
34) Anderson Farms Company provided the following for 2018: Cost of Goods Sold (Cost of sales)__ Beginning Merchand...
34) Anderson Farms Company provided the following for 2018: Cost of Goods Sold (Cost of sales)__ Beginning Merchandise Inventory Ending Merchandise Inventory $1,200,000 300,000 640,000 Calculate the company's inventory tumover ratio for the year. (Round your answer to two decimal places.) O A) 2.55 times per year B) 1.28 times per year C) 4.00 times per year D) 1.88 times per year 35) A lower days' sales in inventory for Samson Company, when compared to other companies, indicates that it...
Kelley, the provided the following account balances for 2018 Cost of Goods Cost of sales Be...
Kelley, the provided the following account balances for 2018 Cost of Goods Cost of sales Be Merchandisinventory w at ons daardeal places OA 14427 days OB 280 08 days OC 0.1 Nicholine had the following balances and transactions during 2018 Deginning Merchande inventory as of January 1, 2018 400 at 12 Sold 50 June 19 ed units at 16 October What would be reported for Ending Merchandise Inventory on the balance sheet December 31, 2018 perpetual invertor in trout inventory...
Anderson Farms Company provided the following for 2018: Cost of Goods Sold (Cost of sales) Beginning...
Anderson Farms Company provided the following for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,200,000 300,000 630,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.) O A. 2.58 times per year OB. 1.29 times per year O c. 1.9 times per year OD. 4 times per year
Anderson Farms Company provided the following for 2018 Cost of Goods Sold (Cost of sales)$1.200,000 Beginning...
Anderson Farms Company provided the following for 2018 Cost of Goods Sold (Cost of sales)$1.200,000 Beginning Merchandise Inventory Ending Merchandise Inventory $300,000 $640,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places) O A. 4.00 times per year O B. 1.88 times per year ° C. 255 times per year O D. 128 times per year
Cheyenne Corp. had the following account balances at year-end: Cost of Goods Sold $61,510; Inventory $15,140;...
Cheyenne Corp. had the following account balances at year-end: Cost of Goods Sold $61,510; Inventory $15,140; Operating Expenses $32,040; Sales Revenue $126,180; Sales Discounts $1,500; and Sales Returns and Allowances $1,940. A physical count of inventory determines that merchandise inventory on hand is $12,750. Prepare the adjusting entry necessary as a result of the physical count. Prepare the closing entries.
Juan Morales Co. had the following account balances at year-end: Cost of Goods Sold $60,790, Inventory...
Juan Morales Co. had the following account balances at year-end: Cost of Goods Sold $60,790, Inventory $17,260, Operating Expenses $31,620, Sales Revenue $123,450, Sales Discounts $1,390, and Sales Returns and Allowances $2,050. A physical count of inventory determines that merchandise inventory on hand is $12,290. Prepare the adjusting entry necessary as a result of the physical count. Prepare closing entries.
M LI View Help 37) Kelley Company provided the following account balances for 2018: Cost of...
M LI View Help 37) Kelley Company provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,300,000 340,000 350,000 Calculate the average number of days that inventory was held by Kelley Company during 2018 (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.) A) 95.55 days B) 194.15 days C) 96.82 days D) 98.38 days 38) Which of the following is...
Martinez Creations had the following account balances at year-end: Cost of Goods Sold #64,510, Inventory t14,670,...
Martinez Creations had the following account balances at year-end: Cost of Goods Sold #64,510, Inventory t14,670, Operating Expenses t32,540, Sales Revenue t126,070, Sales Discounts t1,050, and Sales Returns and Allowances t1,970. A physical count of inventory determines that merchandise inventory on hand is t12,600. Prepare the adjusting entry necessary as a result of the physical count. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
6. Wildflower, Inc. provided the following for 2019: AED Cost of Goods Sold (Cost of sales)...
6. Wildflower, Inc. provided the following for 2019: AED Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory 1,000,000 325,000 630,000 Calculate the average merchandise inventory held during the year. AED
5. Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory AED 1,300,000 330,000 350,000 Calculate the average number of days that inventory was held by Kelley, Inc. during 2018, (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.)_ Days.
34) Anderson Farms Company provided the following for 2018: Cost of Goods Sold (Cost of sales)__ Beginning Merchandise Inventory Ending Merchandise Inventory $1,200,000 300,000 640,000 Calculate the company's inventory tumover ratio for the year. (Round your answer to two decimal places.) O A) 2.55 times per year B) 1.28 times per year C) 4.00 times per year D) 1.88 times per year 35) A lower days' sales in inventory for Samson Company, when compared to other companies, indicates that it...
Kelley, the provided the following account balances for 2018 Cost of Goods Cost of sales Be Merchandisinventory w at ons daardeal places OA 14427 days OB 280 08 days OC 0.1 Nicholine had the following balances and transactions during 2018 Deginning Merchande inventory as of January 1, 2018 400 at 12 Sold 50 June 19 ed units at 16 October What would be reported for Ending Merchandise Inventory on the balance sheet December 31, 2018 perpetual invertor in trout inventory...
Anderson Farms Company provided the following for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,200,000 300,000 630,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.) O A. 2.58 times per year OB. 1.29 times per year O c. 1.9 times per year OD. 4 times per year
Anderson Farms Company provided the following for 2018 Cost of Goods Sold (Cost of sales)$1.200,000 Beginning Merchandise Inventory Ending Merchandise Inventory $300,000 $640,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places) O A. 4.00 times per year O B. 1.88 times per year ° C. 255 times per year O D. 128 times per year
M LI View Help 37) Kelley Company provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,300,000 340,000 350,000 Calculate the average number of days that inventory was held by Kelley Company during 2018 (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.) A) 95.55 days B) 194.15 days C) 96.82 days D) 98.38 days 38) Which of the following is...
Martinez Creations had the following account balances at year-end: Cost of Goods Sold #64,510, Inventory t14,670, Operating Expenses t32,540, Sales Revenue t126,070, Sales Discounts t1,050, and Sales Returns and Allowances t1,970. A physical count of inventory determines that merchandise inventory on hand is t12,600. Prepare the adjusting entry necessary as a result of the physical count. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
6. Wildflower, Inc. provided the following for 2019: AED Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory 1,000,000 325,000 630,000 Calculate the average merchandise inventory held during the year. AED
Most questions answered within 3 hours.
-
Given P(Ec ) = 0.43, P(F) = 0.52, and P(EF) = 0.18.
Find P( E |...
asked 27 minutes ago -
Consider two empty containers A and B whose volumes are
10mL and 20mL respectively. 1mL of...
asked 30 minutes ago -
QUESTION 6
Determine the linear momentum of a 2,800 kg houseboat going 3
m/s.
9,100 kg.m/s...
asked 44 minutes ago -
Jor-el throws a ball upward from the top of a 728 foot building
on the planet...
asked 48 minutes ago -
Which of the following will most likely to happen if Federal
Reserve Bank decreases the money...
asked 31 minutes ago -
You’ve just joined the investment banking firm of Dewey,
Cheatum, and Howe. They’ve offered you two...
asked 25 minutes ago -
An air conditioner cools 226 m^3/min of humid air at 36 oC and
98% relative humidity...
asked 24 minutes ago -
Vaughn Manufacturing acquires a coal mine at a cost of $1870000.
Intangible development costs total $354000....
asked 34 minutes ago -
Question 5
What effect would a decrease in
temperature have on pressure, assuming that volume
(T)...
asked 46 minutes ago -
Draw the Lewis dot structures for the following molecules. None
of the atoms have a formal...
asked 51 minutes ago -
What does it mean when an element is radioactive?
a.
It means the element is changing...
asked 51 minutes ago -
A company deposits $6,000 in a bank at the end of every year for
10 years....
asked 51 minutes ago