Homework Answers
1)
| Cost of Goods Sold | / | Average inventory | = | Inventory Turnover |
| 438,000 | 106,000 | 4.13 times |
2)
| 365 | / | Inventory Turnover | = | Days sales |
| 365 | 4.13 | 88.4 days |
Comment if you face any issues
Add Answer to:
What are the inventory turnover and days' sales in inventory for the year? Compute Newsworthy Publishing Press's invent...
prepare the following ratios for the current year. current ratio acid test ratio inventory turnover Days...
prepare the following ratios for the current
year.
current ratio
acid test ratio
inventory turnover
Days sales in average receivables.
- Х Requirements Virginia's Crafts has provided the following data: (Click the icon to view the financial information.) Read the requirements Compute the following ratios for the current year for Virginia's Crafts: a. Current ratio b. Acid-test ratio c. Inventory turnover d. Days' sales in average receivables (assume all sales are on credit) a. Current ratio Enter the formula on...
More Info X Х a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover...
More Info X Х a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover e. Days' sales in inventory f. Days' sales in receivables g. Gross profit percentage Print Done und intermediary calculations to two decimal places X XX and round your final answer to a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio b. Compute the ca: 365 days / Accounts...
i Data Table s and compute the Year Preceding Year e acid-test ratio fo je Inv....
i Data Table s and compute the Year Preceding Year e acid-test ratio fo je Inv. = Merchandi Balance Sheet: Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities 15,000 $ 6,000 21,100 32,600 7,900 82,600 55,400 13,000 11,500 22,300 29,700 4,900 81,400 38,200 uts and compute the Income Statement: Net Sales Revenue Cost of Goods Sold 187,500 127,100 Print Done mnts and compute the Jercent, X%). Felds and then continue to the...
E6-25 (similar to) Serenity reported the following income statement for the year ended December 31, 2019:...
E6-25 (similar to) Serenity reported the following income statement for the year ended December 31, 2019: (Click the loon to view the income statement.) Requirements 1. Compute Serenity's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute Serenity's days' sales in inventory for the year. (Round to two decimal places.) Requirement 1. Compute Serenity's inventory turnover rate for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory...
E6-25 (similar to) Question Help New Home reported the following income statement for the year ended...
E6-25 (similar to) Question Help New Home reported the following income statement for the year ended December 31, 2019: (Click the icon to view the income statement.) Requirements 1. Compute New Home's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Home's days' sales in inventory for the year. (Round to two decimal places.) - X Data Table Requirement 1. Compute New Home's inventory turnover rate for the year. (Round to two decimal places.) Select...
Shine's has 100,000 common shares outstanding during 2016, Requirements inventory turnover, days' sales in inventory, and...
Shine's has 100,000 common shares outstanding during 2016, Requirements inventory turnover, days' sales in inventory, and gross profit percentage for Shine's Companies for 2016. 2. Compute days' sales in receivables during 2016. Round dollar amounts to three decimal places. Assume all sales were on account. 3. What do these ratios say about Shine's Companies' ability to sell inventory and collect receivables? Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Shine's Companies for 2016...
Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales...
Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding (DSO) on its cash conversion cycle. Chastain's 2019 sales (all on credit) were $197,000, its cost of goods sold is 80% of sales, and it earned a net profit of 4%, or $7,880. It turned over its inventory 7 times during the year, and its DSO was 33 days. The firm had fixed assets totaling $31,000. Chastain's payables deferral period is 50 days....
Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales...
Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding (DSO) on its cash conversion cycle. Chastain's 2019 sales (all on credit) were $226,000, its cost of goods sold is 80% of sales, and it earned a net profit of 3%, or $6,780. It turned over its inventory 6 times during the year, and its DSO was 33 days. The firm had fixed assets totaling $30,000. Chastain's payables deferral period is 40 days....
the financial statements of victors natural foods include the following items Compute the following ratios for...
the financial statements of victors natural foods include the
following items
Compute the following ratios for the current year (Click the ioon to view the ratios.) The financial statements of Victor's Natural Foods include the following items: (Click the ioon to view the financial statements.) a. Compute the current ratio for the current year. (Abbreviations used: STI Short-term investments Round your answer to two decimal places, X.XX) Current ratio b. Compute the cash ratio for the current year. (Round your...
This Question: 4 pts 38 of 60 (42 complete) This Test: 120 pts possible The financial...
This Question: 4 pts 38 of 60 (42 complete) This Test: 120 pts possible The financial statements of Silver Corporation include the following items: 囲(Click the icon to view the data.) Compute the following ratios for the current year (Click the loon to view the ratios.) 7. Compute the current ratio for the current year Begin by selecting the formula labels, then enter the amounts and compute the current ratio for the current year. (Round your answer to two decimal...
prepare the following ratios for the current
year.
current ratio
acid test ratio
inventory turnover
Days sales in average receivables.
- Х Requirements Virginia's Crafts has provided the following data: (Click the icon to view the financial information.) Read the requirements Compute the following ratios for the current year for Virginia's Crafts: a. Current ratio b. Acid-test ratio c. Inventory turnover d. Days' sales in average receivables (assume all sales are on credit) a. Current ratio Enter the formula on...
More Info X Х a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover e. Days' sales in inventory f. Days' sales in receivables g. Gross profit percentage Print Done und intermediary calculations to two decimal places X XX and round your final answer to a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio b. Compute the ca: 365 days / Accounts...
i Data Table s and compute the Year Preceding Year e acid-test ratio fo je Inv. = Merchandi Balance Sheet: Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities 15,000 $ 6,000 21,100 32,600 7,900 82,600 55,400 13,000 11,500 22,300 29,700 4,900 81,400 38,200 uts and compute the Income Statement: Net Sales Revenue Cost of Goods Sold 187,500 127,100 Print Done mnts and compute the Jercent, X%). Felds and then continue to the...
E6-25 (similar to) Serenity reported the following income statement for the year ended December 31, 2019: (Click the loon to view the income statement.) Requirements 1. Compute Serenity's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute Serenity's days' sales in inventory for the year. (Round to two decimal places.) Requirement 1. Compute Serenity's inventory turnover rate for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory...
E6-25 (similar to) Question Help New Home reported the following income statement for the year ended December 31, 2019: (Click the icon to view the income statement.) Requirements 1. Compute New Home's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Home's days' sales in inventory for the year. (Round to two decimal places.) - X Data Table Requirement 1. Compute New Home's inventory turnover rate for the year. (Round to two decimal places.) Select...
Shine's has 100,000 common shares outstanding during 2016, Requirements inventory turnover, days' sales in inventory, and gross profit percentage for Shine's Companies for 2016. 2. Compute days' sales in receivables during 2016. Round dollar amounts to three decimal places. Assume all sales were on account. 3. What do these ratios say about Shine's Companies' ability to sell inventory and collect receivables? Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Shine's Companies for 2016...
the financial statements of victors natural foods include the
following items
Compute the following ratios for the current year (Click the ioon to view the ratios.) The financial statements of Victor's Natural Foods include the following items: (Click the ioon to view the financial statements.) a. Compute the current ratio for the current year. (Abbreviations used: STI Short-term investments Round your answer to two decimal places, X.XX) Current ratio b. Compute the cash ratio for the current year. (Round your...
This Question: 4 pts 38 of 60 (42 complete) This Test: 120 pts possible The financial statements of Silver Corporation include the following items: 囲(Click the icon to view the data.) Compute the following ratios for the current year (Click the loon to view the ratios.) 7. Compute the current ratio for the current year Begin by selecting the formula labels, then enter the amounts and compute the current ratio for the current year. (Round your answer to two decimal...
Most questions answered within 3 hours.
-
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 8 minutes ago -
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 4 minutes ago -
A pharmaceutical company wants to answer the question whether
time for a drug in pill form...
asked 7 minutes ago -
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 17 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 27 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 27 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 38 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 38 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 41 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 44 minutes ago -
A newspaper in a large Midwestern city reported that the
National Association of Realtors said that...
asked 46 minutes ago -
1. Develop a use case diagram for the bank case study described
in Chapter 1. 2....
asked 56 minutes ago