Carson Company has an inventory turnover of 12.75, and its inventory amounts to $2,400,000. What is...
Carson Company has an inventory turnover of 12.75, and its inventory amounts to $2,400,000. What is the amount of cost of goods sold? a.$30,600,000
b. $188,235
c. $26,666,667
d. $51,000
Homework Answers
inventory turnover=COGS/Average inventory
Hence
COGS=(12.75*$2,400,000)
=$30,600,000(A).
Add Answer to:
Carson Company has an inventory turnover of 12.75, and its
inventory amounts to $2,400,000. What is...
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An increasing inventory turnover ratio indicates that a company: has reduced the time it takes to purchase and sell inventory. is having trouble selling its inventory. may be holding too much inventory. is selling inventory at a higher than normal profit. For the year ended December 31, ABC Company cost of goods sold was $48,000. Inventory at the beginning of the year was $6,000. Ending inventory was $10,000. Compute inventory turnover for the year. 8.0 4.8 8.4 6.0 Firms are...
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usinf the amounts below, calculate the inventory turnover
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Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). (5 millions) 2013 2012 Tiffany & Co. Revenues $4,031 $3,794 Cost of goods sold 1,091 1,631 Inventory 2.327 2.234 Zale Corporation Revenues 51,885 51.867 Cost of goods sold 904 906 Inventory 768 742 Blue Nile, Inc Revenues 5450 5400 Cost of goods...
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Only need the D, compute the
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2. Moore Company has the following partial list of account balances at year-end: Accounts payable $1,500 Accounts receivable 4,600 Cost of goods sold 3,200 Cash 23,000 Taxes payable 10,000 Land 25,000 Notes payable (due in 6 months) 1,000 Salaries payable 900 Inventory 4,300 Requirements: A. Compute the quick ratio. B. Determine the amount of working capital. C. Assume that cash is used to pay the balance due on accounts payable....
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An increasing inventory turnover ratio indicates that a company: has reduced the time it takes to purchase and sell inventory. is having trouble selling its inventory. may be holding too much inventory. is selling inventory at a higher than normal profit. For the year ended December 31, ABC Company cost of goods sold was $48,000. Inventory at the beginning of the year was $6,000. Ending inventory was $10,000. Compute inventory turnover for the year. 8.0 4.8 8.4 6.0 Firms are...
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