Homework Answers
Inventory turnover = Cost of goods sold / Average inventory
2022 = $1,421,250 / (565,000+572,000/2)
2022 = $1,421,250 / $568,500 ($1,137,000/2) = 2.5 times
2021 = $1,159,600 / (572,000+320,000/2)
2021 = $1,159,600 / $446,000 ($892,000/2) = 2.6 times
Days in inventory = 365 days / Inventory turnover
2022 = 365 / 2.5 = 146 days
2021 = 365 / 2.6 = 140 days
Gross profit rate = Net sales - Cost of goods sold / Net sales
2022 = $1,895,000-1,421,250 / $1,895,000
2022 = $473,750 / 1,895,000 = 25%
2021 = $1,784,000-1,159,600 / $1,784,000
2021 = $624,400 / 1,784,000 = 35%
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Question 2 of 2 4.95 2021 Inventory Net sales Cost of goods sold 2022 $565,000 1,895,000...
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold 2020 2021 2022 $2,100 $2,500 $2,800 2,500 2,800 2,900 20,930 23,850 23,655 38,900 43,600 43,480 Sales revenue Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times e Textbook and Media Calculate the days in inventory for 2020, 2021, and 2022....
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This information is available for Culver Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning...
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. in millions) Beginning...
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Calculate the days in inventory for 2020, 2021, and 2022. (Round days in inventory to 1...
Calculate the days in inventory for 2020, 2021, and 2022. (Round days in inventory to 1 decimal place, e.g. 5.1.) Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020 2021 2022 Beginning inventory $1,700 $2,300 $2,500 Ending inventory 2,300 2,500 2,600 Cost of goods sold 17,000 20,160 19,635 Sales revenue 38,900 44,500 44,420 (a) Correct answer iconYour answer is correct. Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to...
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Current Attempt in Progress Bridgeport Corp.reported net sales $565,000, cost of goods sold $310,750, operating expenses...
Current Attempt in Progress Bridgeport Corp.reported net sales $565,000, cost of goods sold $310,750, operating expenses $180,000, and net income $66,670 Calculate the profit margin and gross profit rate. (Round answers to 2 decimal places, e.g. 10.20 % ) Profit margin % Gross profit rate %
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning...
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory 2020 2021 2022 $1,800 $2,300 $2,600 2,300 2,600 2,700 Cost of goods sold 18,450 21,805 21,730 Sales revenue 40,200 47,200 47,140 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times e Textbook and Media Calculate the days in inventory for 2020, 2021, and 2022....
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Exercise 6-12 a x Your answer is incorrect. Try again. The following information is available for Shamrock, Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold 2022 $565,000 1,980,000 1,257,300 2021 $578,000 1,775,000 1,061,450 2020 $345,000 1,345,000 941,000 (a) Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to o decimal places, e.g. 125 and gross profit rate...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue 2020 $2,100 2,400 16,200 39,800 2021 $2,400 2,700 18,105 42,600 2022 $2,700 2,800 17,600 42,510 Calculate the inventory turnover for 2020, 2021, and 2022. (Round inventory turnover to 1 decimal place, e.g. 5.1.) 2020 2021 2022 Inventory turnover times times times Calculate the days in inventory for 2020, 2021, and 2022. (Round days in inventory...
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RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
Current Attempt in Progress Bridgeport Corp.reported net sales $565,000, cost of goods sold $310,750, operating expenses $180,000, and net income $66,670 Calculate the profit margin and gross profit rate. (Round answers to 2 decimal places, e.g. 10.20 % ) Profit margin % Gross profit rate %
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