-
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
-
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...
-
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...
-
E13-7 Computing and Interpreting Selected Liquidity Ratios (LO 13-4, LO 13-5] Double West Suppliers (DWS) reported sales for the year of $200,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow: Accounts receivable (net) Inventory Beginning $35,000 50,000 Ending $45,000 30,000 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. Required...
-
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $44,000 beginning inventory $58,000, cost of goods sold $260,000, and sales revenue $370,000. Calculate inventory turnover for E. Hetzel Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER ? (b) Calculate days in inventory for E. Hetzel Company. (Round answer to 1 decimal...
-
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....
-
st r ade OOK ORION Downloadable eTextbook ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NET Brief Exercise 6-9 At December 31, 2015, the following information was available for A. Kamble Company: ending Inventory $42,510, beginning inventory $57,430, cost of goods sold $260,330, and sales revenue $397,020. Calculate inventory turnover for A. Kamble Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Calculate days in inventory for A. Kamble Company. (Round answer to 1 decimal...
-
RCES Brief Exercise 8-11 Suppose the 2017 financial statements of 3M Company report net sales of $25.3 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.41 billion at the end of the year. Compute 3M Company's receivable turnover (Round answer to 1 decimal place, 0.9. 12.5.) Accounts receivable tumover ratio times tudy SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer...
-
Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio Receivables turnover ratio Average collection period Asset turnover ratio times times days times The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $6.7 million, and net income of $895,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021...
-
Return to question Problem 12-4A Calculate risk ratios (LO12-3) The following income statement and balance sheets for Virtual Gaming Systems are provided. 3.75 points VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $3,086,000 Cost of goods sold 1,960,000 Gross profit 1,126,000 Expenses: Operating expenses $868.000 Depreciation expense 32,000 Loss on sale of land 9,000 Interest expense 20,000 Income tax expense 58,000 Total expenses 987,000 Net income $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December...
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
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...
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...
E13-7 Computing and Interpreting Selected Liquidity Ratios (LO 13-4, LO 13-5] Double West Suppliers (DWS) reported sales for the year of $200,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow: Accounts receivable (net) Inventory Beginning $35,000 50,000 Ending $45,000 30,000 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. Required...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $44,000 beginning inventory $58,000, cost of goods sold $260,000, and sales revenue $370,000. Calculate inventory turnover for E. Hetzel Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER ? (b) Calculate days in inventory for E. Hetzel Company. (Round answer to 1 decimal...
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....
st r ade OOK ORION Downloadable eTextbook ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NET Brief Exercise 6-9 At December 31, 2015, the following information was available for A. Kamble Company: ending Inventory $42,510, beginning inventory $57,430, cost of goods sold $260,330, and sales revenue $397,020. Calculate inventory turnover for A. Kamble Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Calculate days in inventory for A. Kamble Company. (Round answer to 1 decimal...
RCES Brief Exercise 8-11 Suppose the 2017 financial statements of 3M Company report net sales of $25.3 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.41 billion at the end of the year. Compute 3M Company's receivable turnover (Round answer to 1 decimal place, 0.9. 12.5.) Accounts receivable tumover ratio times tudy SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer...
Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio Receivables turnover ratio Average collection period Asset turnover ratio times times days times The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $6.7 million, and net income of $895,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021...
Return to question Problem 12-4A Calculate risk ratios (LO12-3) The following income statement and balance sheets for Virtual Gaming Systems are provided. 3.75 points VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $3,086,000 Cost of goods sold 1,960,000 Gross profit 1,126,000 Expenses: Operating expenses $868.000 Depreciation expense 32,000 Loss on sale of land 9,000 Interest expense 20,000 Income tax expense 58,000 Total expenses 987,000 Net income $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December...