The following information was available for Metlock, Inc. at December 31, 2017: beginning inventory $79000; ending inventory $134000; cost of goods sold $608000; and sales $888000. Metlock days in inventory in 2017 was (Round intermediate calculation to 1 decimal place, e.g. 1.2.)
Average inventory | 106500 | =(79000+134000)/2 |
Inventory turnover = Cost of goods sold/Average inventory | ||
Inventory turnover | 5.7 | =608000/106500 |
Metlock days in inventory in 2017 = 365/ Inventory Turnover | ||
Metlock days in inventory in 2017 | 64.0 days | =365/5.7 |
The following information was available for Metlock, Inc. at December 31, 2017: beginning inventory $79000; ending...
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
At December 31, 2022, the following information (in thousands) was available for Flounder Inc.: ending inventory $22,600; beginning inventory $21,200; cost of goods sold $175,200, and sales revenue $445,000. Calculate the inventory turnover and days in inventory for Flounder. (Round answers to 1 decimal places, e.g. 15.2. Use 365 days for calculation.)
The following information is available for Dynatech, Inc. for the fiscal year ending December 31, 2017: ber 31, 07 is available for Dynatech, Inc. for the f Beginning balance in Work in Process Inventory Ending balance in Work in Process Inventory Beginning balance in Finished Goods Inventory Ending balance in Finished Goods Inventory Direct material cost Direct labor cost Manufacturing overhead Selling and administrative expenses Sales $150,000 280,000 450,000 380,000 2,100,000 2,700,000 1,400,000 1,250,000 7,200,000 Prepare a schedule of cost...
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...
The following information is available for Marx, Inc. for the fiscal year ending December 31, 2017: Beginning balance in Work in Process Inventory $160,000 Ending balance in Work in Process Inventory 330,000 Beginning balance in Finished Goods Inventory 460,000 Ending balance in Finished Goods Inventory 390,000 Direct material cost 2,700,000 Direct labor cost 3,480,000 Manufacturing overhead 1,700,000 Selling and administrative expenses 1,330,000 Sales 8,920,000 Prepare an income statement for fiscal 2017. Ignore income taxes. (Enter negative amounts using either a...
The following information is available for Marx, Inc. for the fiscal year ending December 31, 2017: Beginning balance in Work in Process Inventory $160,000 Ending balance in Work in Process Inventory 330,000 Beginning balance in Finished Goods Inventory 460,000 Ending balance in Finished Goods Inventory 390,000 Direct material cost 2,700,000 Direct labor cost 3,480,000 Manufacturing overhead 1,700,000 Selling and administrative expenses 1,330,000 Sales 8,920,000 Prepare a schedule of cost of goods manufactured Marx, Inc. Schedule of Cost of Goods Manufactured...
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.
Suppose at December 31 of a recent year, the following information in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $166,000; beginning inventory $120,000; cost of goods sold $351,780 and sales revenue $761,000. Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover times SHOW LIST OF ACCOUNTS udy Calculate the days in inventory for Oakley, Inc. (Round days in inventory to decimal places, eg. 125.) Days in Inventory days
Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $175,000; beginning inventory $119,000; cost of goods sold $414,540 and sales revenue $773,000. Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover enter inventory turnover ratio rounded to 2 decimal places times Calculate the days in inventory for Oakley, Inc. (Round days in inventory to 0 decimal places, e.g....
QUESTION 1 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 9.0 times 7.9 times. 6.3 times 5.3 times.