Homework Answers
Answer- Merchandise inventory turnover for 2019 is= 8.18 times.
Explanation- Merchandise inventory Turnover ratio = Cost of goods sold/Average inventory
= {$1435000/($154000+$197000)/2}
= $1435000/$175500
= 8.18 times
Add Answer to:
Selected financial Information for Munoz Company for 2019 follows: $2,5e,eee 1,435,000 Sales Cost of goods sold...
Selected financial Information for Munoz Company for 2019 follows: $2,350,000 1,645,000 Sales Cost of goods sold...
Selected financial Information for Munoz Company for 2019 follows: $2,350,000 1,645,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 159,000 193,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover 9.34 times
Selected financial information for Gibson Company for 2019 follows: $2,200,000 1,540,000 Sales Cost of goods sold...
Selected financial information for Gibson Company for 2019 follows: $2,200,000 1,540,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 154,000 199,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover times
Selected financial information for Walton Company for 2019 follows: $1,750,000 1.225,000 Sales Cost of goods sold...
Selected financial information for Walton Company for 2019 follows: $1,750,000 1.225,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 157,000 199,000 Required Assuming that the merchandise inventory buildup was relatively con stant, how many times did the merchandise Inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover times
Selected financial information for Edwards Company for 2019 follows: Sales $ 800,000 Cost of goods sold...
Selected financial information for Edwards Company for 2019 follows: Sales $ 800,000 Cost of goods sold 500,000 Merchandise inventory Beginning of year 37,500 End of year 42,500 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.)
Selected financial information for Edwards Company for Year 4 follows: $800,0e8 5ee, eee Sales Cost of...
Selected financial information for Edwards Company for Year 4 follows: $800,0e8 5ee, eee Sales Cost of goods sold Merchandise inventory Beginning of year End of year 37,500 42,500 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) Merchandise inventory turnover Itimes
Use the following Information: $245,eee 176,eee 54,eee 44, eee Net sales Cost of goods sold Beginning...
Use the following Information: $245,eee 176,eee 54,eee 44, eee Net sales Cost of goods sold Beginning inventory Ending inventory a. Calculate the Inventory turnover ratio. (Round your answer to 1 decimal place.) Inventory turnover ratio times b. Calculate the average days In Inventory. (Assume 365 days in a year. Round your intermediate calculationss and final answer decimal place.) Average days in inventory days c. Calculate the gross profit ratio. (Round your answer to 2 decimal place.) Gross profit ratio
Check my workCheck My Work button is now enabled2 Item 1 Item 1 1.66 points Income...
Check my workCheck My Work button is now enabled2 Item 1 Item 1 1.66 points Income statements for Perez Company for 2018 and 2019 follow: PEREZ COMPANY Income Statements 2019 2018 Sales $ 201,600 $ 181,600 Cost of goods sold 142,100 120,100 Selling expenses 21,200 19,200 Administrative expenses 12,300 14,300 Interest expense 3,800 5,800 Total expenses $ 179,400 $ 159,400 Income before taxes 22,200 22,200 Income taxes expense 5,300 3,800 Net income $ 16,900 $ 18,400 Required Perform a horizontal...
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
Solomon Corporation reported the following operating results for two consecutive years: Required Compute the percentage changes...
Solomon Corporation reported the following operating results for two consecutive years: Required Compute the percentage changes in Solomon Corporation’s income statement components between the two years. (Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) SOLOMON CORPORATION Income Statements 2018 2017 Percentage Change Sales $1,295,000 $1,002,500 % Cost of goods sold 796,425 601,500 Gross margin 498,575 401,000 Operating expenses 304,500 198,000 Income before taxes 194,075 203,000...
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
Selected financial Information for Munoz Company for 2019 follows: $2,350,000 1,645,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 159,000 193,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover 9.34 times
Selected financial information for Gibson Company for 2019 follows: $2,200,000 1,540,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 154,000 199,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover times
Selected financial information for Walton Company for 2019 follows: $1,750,000 1.225,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 157,000 199,000 Required Assuming that the merchandise inventory buildup was relatively con stant, how many times did the merchandise Inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover times
Selected financial information for Edwards Company for Year 4 follows: $800,0e8 5ee, eee Sales Cost of goods sold Merchandise inventory Beginning of year End of year 37,500 42,500 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) Merchandise inventory turnover Itimes
Use the following Information: $245,eee 176,eee 54,eee 44, eee Net sales Cost of goods sold Beginning inventory Ending inventory a. Calculate the Inventory turnover ratio. (Round your answer to 1 decimal place.) Inventory turnover ratio times b. Calculate the average days In Inventory. (Assume 365 days in a year. Round your intermediate calculationss and final answer decimal place.) Average days in inventory days c. Calculate the gross profit ratio. (Round your answer to 2 decimal place.) Gross profit ratio
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
Most questions answered within 3 hours.
-
Boeing Corporation has just issued a
callable (at par) three-year, 5% coupon bond with semiannual coupon...
asked 5 minutes ago -
If the temperature, measured in Kelvin (K), of an ideal gas
decreases by 20%. Then, the...
asked 9 minutes ago -
A carbohydrate residue sample recovered at an archaeological
site at Queen Charlotte Island, British Columbia is...
asked 11 minutes ago -
A convex spherical mirror, whose focal length has a magnitude of
21.2 cm, is to form...
asked 27 minutes ago -
Although this question has been answered, I need it to be custom
and use ASCII Characters...
asked 36 minutes ago -
Chocuer Company presented the following data at the end of
2016:
Current liabilities
$ 300,000
Long-term...
asked 43 minutes ago -
calculate the number of atoms in 2.87 x10^3g sample of
carbon
asked 48 minutes ago -
On December 31, 2017, Toro Company’s Allowance for Doubtful
Accounts had an unadjusted credit balance of...
asked 57 minutes ago -
The average number of calls received by a switchboard in a
30-minute period is 5 with...
asked 1 hour ago -
Consider the following snapshot of a
system:
Allocation
P
R1
R2
R3
R4
P1
0
0...
asked 1 hour ago -
.
NEED ANSWER ASAP / ANSWER NEVER USED BEFORE
Wireless networks make it possible for business...
asked 1 hour ago -
What are possible impurities in the preparation of NH4BF4?
Prepared with NH4F, boric acid, and H2SO4....
asked 1 hour ago