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7. The following information was available for Free for All Limited at December 31, 2018: $...
The following information was available for the year ended December 31, 2019 Net sales Cost of...
The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average Inventory for the year Inventory at year-end $839.500 605,900 39,500 29.900 170,000 157,700 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories (Use 365 days a year. Round your answer to...
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...
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
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.
1.Zebra Company reports the following figures for the years ending December 31, 2019 and 2018: 2019...
1.Zebra Company reports the following figures for the years ending December 31, 2019 and 2018: 2019 2018 Net Sales $65,000 $40,000 Cost of Goods Sold 42,000 31,000 Gross Profit $23,000 $9,000 What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively? (Round your final answers to one decimal place, X.X%) A. 100%, 155.6%, 35.5% B. 62.5%, 35.5%, 155.6% C. 100%, 0.7%, 0.4% D. 155.6%, 62.5%, 35.5% 2. Szidon Company reports...
Mini-Exercise Calculate activity measures The following information was available for the year 11.2 ended December 31,...
Mini-Exercise Calculate activity measures The following information was available for the year 11.2 ended December 31, 2016: Net sales ......... Cost of goods sold .............. Average accounts receivable for the year ..... Accounts receivable at year-end......... Average inventory for the year ............ Inventory at year-end................ $365,000 292,000 14,600 16,000 73,000 78.400 Required: a. Calculate the inventory turnover for 2016. b. Calculate the number of days' sales in inventory for 2016, using year-end inventories. c. Calculate the accounts receivable turnover for...
7 The following information is available Cash Receivables Inventory 30,000 40,000 25,000 95,000 (10,000) 85.000 Payables...
7 The following information is available Cash Receivables Inventory 30,000 40,000 25,000 95,000 (10,000) 85.000 Payables Working Capital What is the quick (acid test) ratio? A 6.5 times B 8.5 times C 9.5 times D 7 times 2 marks Dis Co is considering offering a discount of 2% to its customers if they pay within 10 days rather than the current 25 days. There are 365 days in the year. What is the annual cost to Dis Co of offering...
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts...
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Ine. $ 56,200 2,248 606,960 Supply, Inc. $ 75,400 2,256 867,100 Required a. What is the accounts receivable turnover for each of the companies? b. What is the average days to collect the receivables? c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each company?...
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts...
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Inc. $ 59, 280 2,448 616,960 Supply, Inc. $ 77,200 2,456 917,100 Required a. What is the accounts receivable turnover for each of the companies? b. What is the average days to collect the receivables? c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each...
The following information is available about the company: a. All sales during the year were on...
The following information is available about the company: a. All sales during the year were on account. b. There was no change in the number of shares of common stock outstanding during the year. C. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year. d. Selected balances at the beginning of the current year were: Accounts receivable Inventory Total assets $ 160,000 $ 280,000 $2,160,000 e....
The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average Inventory for the year Inventory at year-end $839.500 605,900 39,500 29.900 170,000 157,700 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories (Use 365 days a year. Round your answer to...
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...
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
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.
Mini-Exercise Calculate activity measures The following information was available for the year 11.2 ended December 31, 2016: Net sales ......... Cost of goods sold .............. Average accounts receivable for the year ..... Accounts receivable at year-end......... Average inventory for the year ............ Inventory at year-end................ $365,000 292,000 14,600 16,000 73,000 78.400 Required: a. Calculate the inventory turnover for 2016. b. Calculate the number of days' sales in inventory for 2016, using year-end inventories. c. Calculate the accounts receivable turnover for...
7 The following information is available Cash Receivables Inventory 30,000 40,000 25,000 95,000 (10,000) 85.000 Payables Working Capital What is the quick (acid test) ratio? A 6.5 times B 8.5 times C 9.5 times D 7 times 2 marks Dis Co is considering offering a discount of 2% to its customers if they pay within 10 days rather than the current 25 days. There are 365 days in the year. What is the annual cost to Dis Co of offering...
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Ine. $ 56,200 2,248 606,960 Supply, Inc. $ 75,400 2,256 867,100 Required a. What is the accounts receivable turnover for each of the companies? b. What is the average days to collect the receivables? c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each company?...
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Inc. $ 59, 280 2,448 616,960 Supply, Inc. $ 77,200 2,456 917,100 Required a. What is the accounts receivable turnover for each of the companies? b. What is the average days to collect the receivables? c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each...
The following information is available about the company: a. All sales during the year were on account. b. There was no change in the number of shares of common stock outstanding during the year. C. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year. d. Selected balances at the beginning of the current year were: Accounts receivable Inventory Total assets $ 160,000 $ 280,000 $2,160,000 e....
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