June Co. has a beginning inventory costing $100,000 and an ending inventory costing $125,000. Sales were...
June Co. has a beginning inventory costing $100,000 and an ending inventory costing $125,000. Sales were $400,000. Assume June's markup rate is 35%, Based on the selling price the inventory turnover at cost (to nearest hundredth) is: 2.31 1.24 1.42 none of the above
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Therefore, we get the option "none of the above"
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June Co. has a beginning inventory costing $100,000 and an ending inventory costing $125,000. Sales were...
XYZ Co has forecasted June sales of 800 units and July sales of 1.900 units. The...
XYZ Co has forecasted June sales of 800 units and July sales of 1.900 units. The company maintains ending inventory equal to 125% of next month's sales. June beginning inventory reflects this policy. What is June's required production? Multiple Choice 2.175 units 2075 units 2125 units 2,325 units
The Food Co-op Club boasts that it has 4,800 members and a 190% increase in sales....
The Food Co-op Club boasts that it has 4,800 members and a 190% increase in sales. The markup is 38% based on cost. What would be its percent markup if selling price were the base? (Round your answer to the nearest hundredth percent.)
Inventory Costing Methods On June 1, Welding Products Company had a beginning inventory of 210 cases...
Inventory Costing Methods On June 1, Welding Products Company had a beginning inventory of 210 cases of welding rods that had been purchased for $88 per case. Welding Products purchased 1,150 cases at a cost of $95 per case on June 3. On June 19, the company purchased another 950 cases at a cost of $112 per case. Sales data for the welding rods are as follows: Date Cases Sold June 9 990 June 29 975 Welding Products uses a...
The following data were taken from the income statements of Wildhorse Co. Sales revenue Beginning inventory...
The following data were taken from the income statements of Wildhorse Co. Sales revenue Beginning inventory Purchases Ending inventory 2022 $6,420,000 969,500 4,814,000 1,178,000 2021 $6,296,000 842,800 4,679,000 969,500 Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2022 2021 Inventory turnover times times
Taxes receivable classified as a/notes If net sales is $550,000, beginning inventory is $110,000, and ending...
Taxes receivable classified as a/notes
If net sales is $550,000, beginning inventory is $110,000, and ending inventory is $125,000, how much would be the accounts receivables turnover? Oa. 4.7 Ob. 5.0 Oc. 4.0 Od. 4.4 Calculator
Putter Corporation had beginning inventory of $25,000 and ending inventory of $31,000. Its net sales were...
Putter Corporation had beginning inventory of $25,000 and ending inventory of $31,000. Its net sales were $153,000 and net purchases were $83,000. Cost of goods sold for the period was $77,000. What is Putter's rate of inventory turnover? (Round your answer to one decimal place.) O A. 3.1 times O B. 2.5 times O C. 2.7 times OD. 2.8 times
Aurora Co. has beginning inventory of 15,000 units at a cost of $34,000. Total sales of 225,000 units were $865,000. Th...
Aurora Co. has beginning inventory of 15,000 units at a cost of $34,000. Total sales of 225,000 units were $865,000. The following purchases were made: Quarter Units Unit Cost Total Cost 60,000 50,000 50,000 70,000 $2.40 $2.50 $2.60 $2.75 $144,000 $125,000 $130,000 $192,500 Calculate the following: FIFO -Ending Inventory COGS Gross Profit LIFO - Ending Inventory COGS Gross Profit Avg Cost-Ending Inventory COGS Gross Profit 1. What is Gross Profit if the company uses FIFO? 2. What is Ending Inventory...
I. Felder Co. incurred the following costs for June 2018: Beginning direct materials inventory $27,000 Beginning...
I. Felder Co. incurred the following costs for June 2018: Beginning direct materials inventory $27,000 Beginning finished goods inventory 26,000 Beginning work in process inventory 8,000 Depreciation on factory building 22,000 Direct labor 211,000 Direct material purchases 193,000 Ending direct materials inventory 16,000 Ending finished goods 35,000 Ending work in process 15,000 Factory supervisor's salary 46,000 Repairs of factory building 7,000 Sales 750,000 Selling and administrative expenses 130,000 Utilities in factory 14,000 Assume an income tax rate of 40 percent....
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for...
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 90 $525 $47,250 8 Purchase 180 630 113,400 11 Sale 120 1,750 210,000 30 Sale 75 1,750 131,250 May 8 Purchase 150 700 105,000 10 Sale 90 1,750 157,500 19 Sale 45 1,750 78,750 28 Purchase 150 770 115,500 June 5 Sale 90 1,840...
inventory costing 60,000 was sold for 100,000. Eighty percent of the sales were for cash. If...
inventory costing 60,000 was sold for 100,000. Eighty percent of the sales were for cash. If you do this question on a cash basis how you would do it versus if you had to do it from an accrual basis.
XYZ Co has forecasted June sales of 800 units and July sales of 1.900 units. The company maintains ending inventory equal to 125% of next month's sales. June beginning inventory reflects this policy. What is June's required production? Multiple Choice 2.175 units 2075 units 2125 units 2,325 units
Inventory Costing Methods On June 1, Welding Products Company had a beginning inventory of 210 cases of welding rods that had been purchased for $88 per case. Welding Products purchased 1,150 cases at a cost of $95 per case on June 3. On June 19, the company purchased another 950 cases at a cost of $112 per case. Sales data for the welding rods are as follows: Date Cases Sold June 9 990 June 29 975 Welding Products uses a...
The following data were taken from the income statements of Wildhorse Co. Sales revenue Beginning inventory Purchases Ending inventory 2022 $6,420,000 969,500 4,814,000 1,178,000 2021 $6,296,000 842,800 4,679,000 969,500 Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2022 2021 Inventory turnover times times
Taxes receivable classified as a/notes
If net sales is $550,000, beginning inventory is $110,000, and ending inventory is $125,000, how much would be the accounts receivables turnover? Oa. 4.7 Ob. 5.0 Oc. 4.0 Od. 4.4 Calculator
Putter Corporation had beginning inventory of $25,000 and ending inventory of $31,000. Its net sales were $153,000 and net purchases were $83,000. Cost of goods sold for the period was $77,000. What is Putter's rate of inventory turnover? (Round your answer to one decimal place.) O A. 3.1 times O B. 2.5 times O C. 2.7 times OD. 2.8 times
Aurora Co. has beginning inventory of 15,000 units at a cost of $34,000. Total sales of 225,000 units were $865,000. The following purchases were made: Quarter Units Unit Cost Total Cost 60,000 50,000 50,000 70,000 $2.40 $2.50 $2.60 $2.75 $144,000 $125,000 $130,000 $192,500 Calculate the following: FIFO -Ending Inventory COGS Gross Profit LIFO - Ending Inventory COGS Gross Profit Avg Cost-Ending Inventory COGS Gross Profit 1. What is Gross Profit if the company uses FIFO? 2. What is Ending Inventory...
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