Homework Answers
| Ans. 31 | Option c 6.3 times | ||
| Inventory turnover = Cost of goods sold / Average Inventory | |||
| $630,000 / $100,000 | |||
| 6.30 | times | ||
| *Average inventory = (Beginning inventory + Ending inventory) / 2 | |||
| ($80,000 + $120,000) / 2 | |||
| $100,000 | |||
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31. The following information was available for Camara Company at December 31, 2017: beginning inventory $80,000; en...
QUESTION 1 The following information was available for Camara Company at December 31, 2017: beginning inventory...
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.
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
The following information was available for Metlock, Inc. at December 31, 2017: beginning inventory $79000; ending...
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.)
CALCULATOR JULL SCREEN PRINTER VERSION e BACK NEX Post-Lecture Question 04 The following information is available...
CALCULATOR JULL SCREEN PRINTER VERSION e BACK NEX Post-Lecture Question 04 The following information is available for Tye Company at December 31: Beginning inventory $80,000; Ending inventory $120,000; Cost of goods sold $1,200,000; and Sales revenue $1,600,000. Tye's inventory turnover is 16 times. 15 times 12 times 10 times.
Suppose at December 31 of a recent year, the following information in thousands) was available for...
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
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 4,800 Units sold 4,000 Sales $400,000 Materials cost $96,000 Variable conversion cost used $48,000 Fixed manufacturing cost $72,000 Indirect operating costs (fixed)$80,000 The absorption costing ending inventory is:
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for...
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...
7. The following information was available for Free for All Limited at December 31, 2018: $...
7. The following information was available for Free for All Limited at December 31, 2018: $ 220,000 260,000 1,680,000 2,800,000 Beginning inventory.. Ending inventory.. Cost of goods sold.. Net sales.. Free for All inventory turnover was (a) 6.0 times (b) 7.0 times (c) 8.5 times. (d) 10.0 times. Free for All days in inventory was (a) 60.8 days. (b) 42.9 days (c) 52.1 days. (d) 36.5 days. An increase in inventory turnover means days in inventory (a) increases (b) decreases...
At December 31, 2022, the following information (in thousands) was available for Flounder Inc.: ending inventory...
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.)
16. Smith Company had Beginning Inventory of $50,000, Ending Inventory of $80,000, Cost of Goods Sold of $320,000,...
16. Smith Company had Beginning Inventory of $50,000, Ending Inventory of $80,000, Cost of Goods Sold of $320,000, and Sales of $500,000. Smith's inventory turnover is: a. 4 times Chagallo loco inemeoloonins as beleb al MS b. 4.9 times VALEO c. 7.7 times til boldo v enilo nob Wallneve d. 6.25 times 17. Smith Company had Beginning Inventory of $50,000, Ending Inventory of $80,000, Cost of God Sold of $320,000, and Sales of $500,000. Smith's Days in Inventory is: a....
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.
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
CALCULATOR JULL SCREEN PRINTER VERSION e BACK NEX Post-Lecture Question 04 The following information is available for Tye Company at December 31: Beginning inventory $80,000; Ending inventory $120,000; Cost of goods sold $1,200,000; and Sales revenue $1,600,000. Tye's inventory turnover is 16 times. 15 times 12 times 10 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
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...
7. The following information was available for Free for All Limited at December 31, 2018: $ 220,000 260,000 1,680,000 2,800,000 Beginning inventory.. Ending inventory.. Cost of goods sold.. Net sales.. Free for All inventory turnover was (a) 6.0 times (b) 7.0 times (c) 8.5 times. (d) 10.0 times. Free for All days in inventory was (a) 60.8 days. (b) 42.9 days (c) 52.1 days. (d) 36.5 days. An increase in inventory turnover means days in inventory (a) increases (b) decreases...
16. Smith Company had Beginning Inventory of $50,000, Ending Inventory of $80,000, Cost of Goods Sold of $320,000, and Sales of $500,000. Smith's inventory turnover is: a. 4 times Chagallo loco inemeoloonins as beleb al MS b. 4.9 times VALEO c. 7.7 times til boldo v enilo nob Wallneve d. 6.25 times 17. Smith Company had Beginning Inventory of $50,000, Ending Inventory of $80,000, Cost of God Sold of $320,000, and Sales of $500,000. Smith's Days in Inventory is: a....
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