Homework Answers
Add Answer to:
Use the following Information: $245,eee 176,eee 54,eee 44, eee Net sales Cost of goods sold Beginning...
Brief Exercise 6-16 Calculate inventory ratios (L06-7) Use the following information: Net sales Cost of goods...
Brief Exercise 6-16 Calculate inventory ratios (L06-7) Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $235,000 168,000 52,000 42,000 a. Calculate the inventory turnover ratio. (Round your answer to place.) int Inventory turnover ratio times erences b. Calculate the average days in inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) Average days in inventory days c. Calculate the gross profit ratio. (Round your answer...
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...
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end...
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
This information is available for Culver Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning...
This information is available for Culver Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning inventory Ending inventory $2,239 $2,442 2,442 2,958 24,943 23,259 Cost of goods sold Sales 43,441 42,427 Calculate the inventory turnover, days in inventory, and gross profit rate for Culver Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, eg. 0.25 and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 2021 2022 Inventory turnover ratio...
The following information was available for the year ended December 31, 2019 Net sales Cost of...
The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average Inventory for the year Inventory at year-end $839.500 605,900 39,500 29.900 170,000 157,700 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories (Use 365 days a year. Round your answer to...
Question 2 of 2 4.95 2021 Inventory Net sales Cost of goods sold 2022 $565,000 1,895,000...
Question 2 of 2 4.95 2021 Inventory Net sales Cost of goods sold 2022 $565,000 1,895,000 1,421,250 $572,000 1,784,000 1,159,600 2020 $320,000 1,360,000 930,000 (a) Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021. (Round inventory turnover to 1 place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, eg. 5.2%.) 2022 2021 Inventory Turnover 2.9 times 2.4 times Days in Inventory 126 days...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets $90,000 $65,000 $23,400 $75,000 $81,000 Compute (a) profit margin and (b) return on total assets Complete this question by entering your answers in the tabs below. Profit Margin Ratio Return On Total Assets Compute the profit margin ratio. Choose Numerator: Profit Margin Ratio Choose Denominator - = Profit Margin Ratio Profit margin ratio...
Double West Suppliers (DWS) reported sales for the year of $240,000, all on credit. The average...
Double West Suppliers (DWS) reported sales for the year of $240,000, all on credit. The average gross profit percentage was 35 percent on sales. Account balances follow Accounts receivable (net) Inventory Beginning $ 39,000 54,00 Ending $50,000 34,000 Required: 1. Compute the following turnover ratios 2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory Complete this question by entering your answers in the tabs below....
Paul & Griffon is a multinational corporation that manufactures and markets many products that you use...
Paul & Griffon is a multinational corporation that manufactures and markets many products that you use every day. In 2013, sales for the company were $85,000 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The average gross profit percentage was 49.6 percent. Account balances for that year follow: Accounts receivable (net) Inventory Beginning Ending $6,300 $6,700 7,080 7,100 Required: 1. Compute the following...
Procter & Gamble is a multinational corporation that manufactures and markets many products that you use...
Procter & Gamble is a multinational corporation that manufactures and markets many products that you use every day. In 2013, sales for the company were $91,500 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The average gross profit percentage was 50.9 percent. Account balances for that year follow: Accounts receivable (net) Inventory Beginning Ending S5,600 6,000 6,380 6,400 Required 1. Compute the following...
Brief Exercise 6-16 Calculate inventory ratios (L06-7) Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $235,000 168,000 52,000 42,000 a. Calculate the inventory turnover ratio. (Round your answer to place.) int Inventory turnover ratio times erences b. Calculate the average days in inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) Average days in inventory days c. Calculate the gross profit ratio. (Round your answer...
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...
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
This information is available for Culver Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning inventory Ending inventory $2,239 $2,442 2,442 2,958 24,943 23,259 Cost of goods sold Sales 43,441 42,427 Calculate the inventory turnover, days in inventory, and gross profit rate for Culver Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, eg. 0.25 and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 2021 2022 Inventory turnover ratio...
The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average Inventory for the year Inventory at year-end $839.500 605,900 39,500 29.900 170,000 157,700 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories (Use 365 days a year. Round your answer to...
Question 2 of 2 4.95 2021 Inventory Net sales Cost of goods sold 2022 $565,000 1,895,000 1,421,250 $572,000 1,784,000 1,159,600 2020 $320,000 1,360,000 930,000 (a) Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021. (Round inventory turnover to 1 place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, eg. 5.2%.) 2022 2021 Inventory Turnover 2.9 times 2.4 times Days in Inventory 126 days...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets $90,000 $65,000 $23,400 $75,000 $81,000 Compute (a) profit margin and (b) return on total assets Complete this question by entering your answers in the tabs below. Profit Margin Ratio Return On Total Assets Compute the profit margin ratio. Choose Numerator: Profit Margin Ratio Choose Denominator - = Profit Margin Ratio Profit margin ratio...
Double West Suppliers (DWS) reported sales for the year of $240,000, all on credit. The average gross profit percentage was 35 percent on sales. Account balances follow Accounts receivable (net) Inventory Beginning $ 39,000 54,00 Ending $50,000 34,000 Required: 1. Compute the following turnover ratios 2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory Complete this question by entering your answers in the tabs below....
Paul & Griffon is a multinational corporation that manufactures and markets many products that you use every day. In 2013, sales for the company were $85,000 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The average gross profit percentage was 49.6 percent. Account balances for that year follow: Accounts receivable (net) Inventory Beginning Ending $6,300 $6,700 7,080 7,100 Required: 1. Compute the following...
Procter & Gamble is a multinational corporation that manufactures and markets many products that you use every day. In 2013, sales for the company were $91,500 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The average gross profit percentage was 50.9 percent. Account balances for that year follow: Accounts receivable (net) Inventory Beginning Ending S5,600 6,000 6,380 6,400 Required 1. Compute the following...
Most questions answered within 3 hours.
-
The outstanding bonds of Alpha Extracts have a yield to maturity
of 7.4 percent and a...
asked 18 minutes ago -
A 8.15- g bullet from a 9-mm pistol has a velocity of 366.0 m/s.
It strikes...
asked 21 minutes ago -
The Problem: The Case of the Harmonizing Vacations
Your CEO is exploring partnering with a European...
asked 1 hour ago -
A chemical equation is balanced by adding coefficients in front
of some formulas so that the...
asked 1 hour ago -
From the literature (reference your sources): What are the
lattice parameters of calcite and aragonite? Why...
asked 2 hours ago -
Your system is rejecting the question am asking which is
preceded by a case study. It...
asked 2 hours ago -
3. On January 2, 2000, Larry creates a trust with himself as
trustee. Larry as trustee...
asked 2 hours ago -
A member of the volleyball team spikes the ball. During this
process, she changes the velocity...
asked 2 hours ago -
Are adult gamers less likely to use a gaming console (Xbox,
PlayStation, Wii, etc...) than teen...
asked 3 hours ago -
The University of
Texas recently reported that 43% of college students aged 18-24
would spend their...
asked 3 hours ago -
The length of stay at a specific emergency department in
Phoenix, Arizona, in 2009 had a...
asked 2 hours ago -
. Please give the mechanism for this type of problem. Step by
Step
The toxin that...
asked 2 hours ago