Assume a firm’s inventory level of $10,500 represents 31 days sales
What is the annual cost of the goods
=10500*(365/31)
=123629.03
the inventory turnover ratio
=123629.03/10500
=11.77
Assume a firm’s inventory level of $10,500 represents 31 days sales What is the annual cost...
Assume a firm’s inventory level of $15,500 represents 29 days' sales. Required: a. What is the annual cost of goods sold? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to whole number.) b. What is the inventory turnover ratio? (Round your answer to 2 decimal places.)
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...
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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...
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Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 2047 2046 Cost of goods sold $3,728,475 $4,004,780 Inventories: Beginning of year 788,400 751,900 End of year 868,700 788,400 Required a. Determine the inventory turnover for 2017 and 20Y6. Round to one decimal place. 2047 2046 Inventory turnover b. Determine the number of days' sales in inventory for 2017 and 20Y6. Use 365 days and round to one decimal...
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usinf the amounts below, calculate the inventory turnover
ratio, average days in inventory, and gross profit ratio.
nventory turnover ratio, average days in inventory Net sales $250,000 180,000 Cost of goods sold Beginning inventory Ending inventory 55,000 45,000 ing a periodic system (106-8)
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