Homework Answers
Answer
2021
Inventory tunover Ratio of 2021=Purchases/Average inventory
Average inventory=(Begining inventory+Ending inventory)/2
Purchase=$4,679,000
Average inventory=(842,800+969,500)/2
Average inventory=$906,150
Inventory turnover ratio=Purchases/Average inventory
=4,679,000/906,150
=5.163
Inventory turnover ration in 2021=5.2(Rounded off)
2022
Inventory tunover Ratio of 2022=Purchases/Average inventory
Average inventory=(Begining inventory+Ending inventory)/2
Purchase=$4,814,000
Average inventory=(969,500+1,178,000)/2
Average inventory=$1,073,750
Inventory turnover ratio=Purchases/Average inventory
=4,814,000/1,073,750
=4.4833
Inventory turnover ration in 2022=4.5(Rounded off)
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1.2. 3. 4. 4 homework questions, Help ! Brief Exercise 18-11 al-a2 The following data are...
1.2.
3.
4.
4 homework questions, Help !
Brief Exercise 18-11 al-a2 The following data are taken from the financial statements of Colby Company. 2019 Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 2020 $555,000 4,033,250 $550,000 3,065,250 Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $455,000. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Accounts receivable turnover times times LINK...
Current Attempt in Progress ons The following data are from the income statements of Cullumber Company...
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The data given below were taken from the income statements of Metronix Corporation. EEB Click the...
The data given below were taken from the income statements of Metronix Corporation. EEB Click the icon to view the financial data for Metronix Corporation Compute the inventory-turnover ratio for each year. The inventory-turnover ratio in 2017 is times. (Round to one decimal place.)
The following data were taken from the income statements of Mydorf Company. Sales revenue Beginning inventory Purchases 2020 $6,450,000 915,000 4,328,250 1,040,000 2019 $6,230,000 900,000 4,643,250 915,000 Ending inventory Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Inventory turnover times times LINK TO TEXT Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Days in inventory days...
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The following data are taken from the financial statements of Wildhorse Co.. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, 1/45 $ 555,000 4,489,500 $ 540,000 3,614,200 Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $523,000. (Round answers 2020 2019 Accounts receivable turnover times times LINK TO TEXT Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5....
The data given below were taken from the income statements of Metronix Corporation. Click the icon to view the financial data for Metronix Corporation. Compute the inventory-turnover ratio for each year. The inventory-turnover ratio in 2017 is times. (Round to one decimal place.) i More Info - Х Total revenue Beginning inventory Purchases Ending inventory 2018 $4,658,125 $231,313 $510,711 $366,106 2017 $3,776,395 $202,794 $566,145 $231,313 Print Done
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1.2.
3.
4.
4 homework questions, Help !
Brief Exercise 18-11 al-a2 The following data are taken from the financial statements of Colby Company. 2019 Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 2020 $555,000 4,033,250 $550,000 3,065,250 Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $455,000. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Accounts receivable turnover times times LINK...
Current Attempt in Progress ons The following data are from the income statements of Cullumber Company inces ations US Support Sales revenue Beginning inventory Purchases Ending inventory 2021 2020 $6,402,000 $6,116,000 970,400 782,500 4,753,000 4,618,000 1,133,000 970,400 Calculate the inventory turnover for each year. (Round answers to 1 decimal places. 1250 2021 2020 Inventory turnover times times e Textbook and Media Calculate the days in inventory for each yearl (Round answers to decimal places, 3. 124. Use 365 days for...
The data given below were taken from the income statements of Metronix Corporation. EEB Click the icon to view the financial data for Metronix Corporation Compute the inventory-turnover ratio for each year. The inventory-turnover ratio in 2017 is times. (Round to one decimal place.)
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