From the following information for Russo Merchandising Co. 2018 2017 2016 Cost of goods sold $643,825...
From the following information for Russo Merchandising Co. 2018 2017 2016 Cost of goods sold $643,825 $426,650 $391,300 Merchandise inventory (December 31) 96,400 86,750 91,500 Calculate inventory turnover for 2018 and 2017 and days’ sales in inventory at December 31, 2018, and 2017. (Round your final answers to 1 decimal place.)
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
From the following information for Russo Merchandising Co. 2018
2017 2016 Cost of goods sold $643,825...
The following is information for Palmer Co. 2017 2016 2015 Cost of goods sold $ 543,825...
The following is information for Palmer Co. 2017 2016 2015 Cost of goods sold $ 543,825 $ 326,650 $ 291,300 Ending inventory 106,400 96,750 101,500 Use the above information to compute inventory turnover for 2017 and 2016, and its days' sales in inventory at December 31, 2017 and 2016.
Exercise 5-13 Inventory turnover and days' sales in inventory LO A3 The following is Information for...
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...
Chapter 05 Homework i Saved The following is information for Palmer Co. Cost of goods sold...
Chapter 05 Homework i Saved The following is information for Palmer Co. Cost of goods sold Ending inventory Year 3 $638,825 96,900 Year 2 $ 421,650 87,250 Year 1 $386,300 92,000 points Use the above information to compute inventory turnover for year 3 and year 2, and its days' sales in inventory at December 31, year 3 and year 2. eBook Hint Print (a) Use the above information to compute inventory turnover for year 2, and its days' sales in...
The following financial information is for Alpha Corporation for the fiscal years ending 2017 & 2016...
The following financial information is for Alpha Corporation for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400 Inventory 30,000 16,000 Net Sales (all credit) 85,000 71,000 Cost of Goods Sold 62,000 52,000 Net Income 7,200 6,900 Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) 1. the inventory turnover ratio 2. number of days of inventory 3. Gross...
Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 $ 620,481 $ 408, 211...
Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 $ 620,481 $ 408, 211 $ 331,879 $ 225,768 $ 318,945 209,888 172,408 1 17,092 30,031 23,799 22,734 13,230 2015 163,600 83,436 11,190 Compute trend percents for the above accounts, using 2015 as the base year. Trend Percent for Net Sales: | Choose Denominator: Choose Numerator: Trend percent 2019: 2018: 2017: 2016: Trend Percent for Cost of Goods Sold: 1 Choose Denominator: Choose Numerator: 1 = Trend percent 2019:...
At December 31, 2017, the following information was available for A. Kamble Company: ending inventory $38,250,...
At December 31, 2017, the following information was available for
A. Kamble Company: ending inventory $38,250, beginning inventory
$58,500, cost of goods sold $273,000, and sales revenue
$366,000.
A) Calculate inventory turnover for A. Kamble Company.
(Round answer to 1 decimal place, e.g.
1.5.)
Inventory turnover
times
B) Calculate days in inventory for A. Kamble Company.
(Round answer to 1 decimal place, e.g. 1.5. Use 365
days for calculation.)
Days in inventory
$
days
Selected information follow for Bush Company: 2019 2018 Sales revenue $700,000 $520,000 Cost of goods sold...
Selected information follow for Bush Company: 2019 2018 Sales revenue $700,000 $520,000 Cost of goods sold 407,700 310,000 Interest expense 22,000 14,000 Income tax expense 6,500 5,100 Net income 30,000 20,300 Cash flow from operating activities 29,500 26,500 Capital expenditures 42,000 25,000 Accounts receivable (net), December 31 182,000 128,000 Inventory, December 31 225,000 180,000 Stockholders’ equity, December 31 205,000 165,000 Total assets, December 31 460,000 350,000 Required Calculate the following ratios for 2019. The 2018 results are given for comparative...
mnment Exercise 5-13 Inventory turnover and days' soles in inventory LO AS The following is information...
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...
5. Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of...
5. Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory AED 1,300,000 330,000 350,000 Calculate the average number of days that inventory was held by Kelley, Inc. during 2018, (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.)_ Days.
A company reports the following: Cost of goods sold $819,060 Average inventory 96,360 Determine (a) the...
A company reports the following: Cost of goods sold $819,060 Average inventory 96,360 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days Feedback a. Divide cost of goods sold by average inventory. b. Divide average inventory by average daily cost of goods sold. Average daily...
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...
Chapter 05 Homework i Saved The following is information for Palmer Co. Cost of goods sold Ending inventory Year 3 $638,825 96,900 Year 2 $ 421,650 87,250 Year 1 $386,300 92,000 points Use the above information to compute inventory turnover for year 3 and year 2, and its days' sales in inventory at December 31, year 3 and year 2. eBook Hint Print (a) Use the above information to compute inventory turnover for year 2, and its days' sales in...
Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 $ 620,481 $ 408, 211 $ 331,879 $ 225,768 $ 318,945 209,888 172,408 1 17,092 30,031 23,799 22,734 13,230 2015 163,600 83,436 11,190 Compute trend percents for the above accounts, using 2015 as the base year. Trend Percent for Net Sales: | Choose Denominator: Choose Numerator: Trend percent 2019: 2018: 2017: 2016: Trend Percent for Cost of Goods Sold: 1 Choose Denominator: Choose Numerator: 1 = Trend percent 2019:...
At December 31, 2017, the following information was available for
A. Kamble Company: ending inventory $38,250, beginning inventory
$58,500, cost of goods sold $273,000, and sales revenue
$366,000.
A) Calculate inventory turnover for A. Kamble Company.
(Round answer to 1 decimal place, e.g.
1.5.)
Inventory turnover
times
B) Calculate days in inventory for A. Kamble Company.
(Round answer to 1 decimal place, e.g. 1.5. Use 365
days for calculation.)
Days in inventory
$
days
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...
5. Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory AED 1,300,000 330,000 350,000 Calculate the average number of days that inventory was held by Kelley, Inc. during 2018, (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.)_ Days.
Most questions answered within 3 hours.
-
23. Which molecule has only covalent bonds? A. CO2 B. Al2O3 C.
Mg3N2
24. The octet...
asked 2 minutes from now -
the
total pressure for a mixture of N2O4 and NO2 is 2.20 atm. If Kp=
7.10...
asked 15 seconds ago -
For pesticide HCB (hexachlorobenzene), its logarithmic partition
coefficient log Kow is 5.6. What would be the...
asked 36 seconds ago -
A chemist requires 0.422 mil Na2CO3 for a reaction. How many
grams does this correspond to?
asked 4 minutes ago -
If the vapor pressure of carvone is approximately 9.4 torr at 99
°C, approximately how much...
asked 23 minutes ago -
A juice bottling company is carrying out a test at 10%
significance that the mean population...
asked 34 minutes ago -
What is the reflectivity (in percent) needed to keep water at a
temperature near its freezing...
asked 37 minutes ago -
Suppose that the average surface temperature of Earth is 300K.
Assume this is uniform over its...
asked 38 minutes ago -
Draw the condensed structural formula for alkenes and alkynes or
the line-angle structural formula for cycloalkenes...
asked 38 minutes ago -
M. Laing has suggested a new arrangement of the periodic table
(J.Chem.Ed.1989, 66,
746). Answer the following...
asked 59 minutes ago -
Café Michigan's manager, Gary Stark, suspects that demand for
mocha latte coffees depends on the price...
asked 58 minutes ago -
A US merchant purchases wine from a vineyard outside of Paris.
The wine is transported to...
asked 1 hour ago