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P1. Company Alice shows the following data as of 12/31/2018: Beginning inventory 3,918,000 3,820,000 22,624,000 Ending...
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
Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company...
Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $1,010,000 $819,000 Total assets: Beginning of year 440,000 340,000 End of year 570,000 440,000 a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place. 2019 2018 Ratio of sales to assets b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?
A company reports the following amounts for 2021 Help Inventory beginning) Inventory (ending) Purchases Purchase returns...
A company reports the following amounts for 2021 Help Inventory beginning) Inventory (ending) Purchases Purchase returns $20.000 31,000 220,000 13.00 Calculate cost of goods sold, the inventory turnover ratio, and the average days in inventory for 2021 (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) Cost of goods sold Inventory turnover ratio Average days in inventory f u mes days During 2021 a company sells 330 units of inventory for $94 each....
Ch. 6 Part One: Charlie Co. has the following data about inventory, using the periodic inventory...
Ch. 6 Part One: Charlie Co. has the following data about inventory, using the periodic inventory system: July 1 Beginning Inventory + 1,000 units at $2 each 5 Purchase + 2,000 units at $2.75 each 10 Sell - 2,500 units for $16 each 15 Purchase + 2,000 units at $4 each 25 Sell - 1,500 units for $12 each 1. How many units are in ending inventory? 1940 19 2. Calculate COGS for July and ending inventory on July 31"...
31. The following information was available for Camara Company at December 31, 2017: beginning inventory $80,000; en...
31. The following information was available for Camara Company at December 31, 2017: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $630,000; and sales $900,000. Camara's inventory turnover in 2017 was a. 9.0 times b. 7.9 times. c. 6.3 times. d. 5.3 times.
Santos Inc. had the following information for the preceding year: Beginning Ending Inventory Inventory (1/1) (12/31)...
Santos Inc. had the following information for the preceding year: Beginning Ending Inventory Inventory (1/1) (12/31) $ 49,000 $ 31,300 $ 38,000 $ ?? $ 30,500 $ ?? Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Direct materials used Direct labor Manufacturing overhead applied Cost of goods manufactured Cost of goods sold $205,700 $157,200 $167,000 $527,000 $553,700 What was the ending Work in Process Inventory balance on 12/31? What was...
The Controller of Company has gathered the ff: Beginning Ending Inventory P6,400.00 P7,600.00 Accounts receivable 2,140.00...
The Controller of Company has gathered the ff: Beginning Ending Inventory P6,400.00 P7,600.00 Accounts receivable 2,140.00 3,060.00 Accounts payable 3,320.00 3,680.00 Total sales were P85,900.00, of which P62,400.00 were credit sales. COGS is P24,500.00. Compute for the Company’s payables turnover ratio for the year
The following data is provided for Garcon Company and Pepper Company Beginning finished goods inventory Beginning...
The following data is provided for Garcon Company and Pepper Company Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,400 14,700 7,900...
Santos Inc. had the following information for the preceding year: Beginning Inventory (1/1) Ending Inventory (12/31)...
Santos Inc. had the following information for the preceding year: Beginning Inventory (1/1) Ending Inventory (12/31) Raw Materials Inventory $ 45,600 $ 32,500 Work in Process Inventory $ 37,900 $ ?? Finished Goods Inventory $ 33,200 $ ?? Additional information for the year is as follows: Direct materials used $ 209,300 Direct labor $ 158,500 Manufacturing overhead applied $ 162,200 Cost of goods manufactured $ 525,200 Unadjusted cost of goods sold $ 544,000 What was the ending Finished Goods Inventory...
5. The following information is available for Omari Corporation for 2018 (5 marks): Beginning inventory
5. The following information is available for Omari Corporation for 2018 (5 marks): Beginning inventory $ 700,000 Ending inventory 800,000 Cost of goods sold 6,000,000 Sales 8,000,000 Instructions Calculate the inventory turnover for Omari Corporation. (2.5 marks) Calculate days in inventory for Omari Corporation. (2.5 marks)
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
Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $1,010,000 $819,000 Total assets: Beginning of year 440,000 340,000 End of year 570,000 440,000 a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place. 2019 2018 Ratio of sales to assets b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?
A company reports the following amounts for 2021 Help Inventory beginning) Inventory (ending) Purchases Purchase returns $20.000 31,000 220,000 13.00 Calculate cost of goods sold, the inventory turnover ratio, and the average days in inventory for 2021 (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) Cost of goods sold Inventory turnover ratio Average days in inventory f u mes days During 2021 a company sells 330 units of inventory for $94 each....
Ch. 6 Part One: Charlie Co. has the following data about inventory, using the periodic inventory system: July 1 Beginning Inventory + 1,000 units at $2 each 5 Purchase + 2,000 units at $2.75 each 10 Sell - 2,500 units for $16 each 15 Purchase + 2,000 units at $4 each 25 Sell - 1,500 units for $12 each 1. How many units are in ending inventory? 1940 19 2. Calculate COGS for July and ending inventory on July 31"...
31. The following information was available for Camara Company at December 31, 2017: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $630,000; and sales $900,000. Camara's inventory turnover in 2017 was a. 9.0 times b. 7.9 times. c. 6.3 times. d. 5.3 times.
Santos Inc. had the following information for the preceding year: Beginning Ending Inventory Inventory (1/1) (12/31) $ 49,000 $ 31,300 $ 38,000 $ ?? $ 30,500 $ ?? Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Direct materials used Direct labor Manufacturing overhead applied Cost of goods manufactured Cost of goods sold $205,700 $157,200 $167,000 $527,000 $553,700 What was the ending Work in Process Inventory balance on 12/31? What was...
The following data is provided for Garcon Company and Pepper Company Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,400 14,700 7,900...
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