. Calculate the inventory turnover for the Years 2017 and 2018. B. Calculate the days' sales in inventory for the Years 2017 and 2018. C. Is the change in both the inventory turnover and the days' sales in inventory from 2017 to 2018 favorable or is it unfavorable?

Q: Use the following information relating to Clover Company to calculate (a) the inventory turnover…

A: The ratio is calculated to determine the relationship between 2 numbers. In accounting, Ratios are…

Q: Sunland Enterprises reported the following information for 2014: Beginning inventory   $30,080…

A: Solution:- 1)calculation of the gross profit margin as follows under:- Gross profit =Net sales-Cost…

Q: ales eginning inventories ost of goods sold nding inventories Current Year $934,400 43,572 467,200…

A: The inventory turnover measures how efficiently a company uses its inventory by dividing the cost of…

Q: Based on the following data for the current year, what is the inventory turnover (rounded to one…

A: Avergae inventory=Merchandise inventory, beginning of the year+Merchandise inventory, end of…

Q: The following data were extracted from the income statement of Keever Inc.:   Current Year Previous…

A: Formulaes for calculation of inventory turnover ratio are given below   inventory turnover = cost…

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A: Comparative financial statements are used to compare two or more years to understand the financial…

Q: Sheffield’s days in inventory in 2018 was

A: Information provided: Beginning inventory= $106,000 Ending inventory= $94,000 Cost of goods sold=…

Q: The following data were extracted from the income statement of Shriver Inc.: Current Year Prior Year…

A: DIO( Days Inventory Outstanding)=(Avg Inventory/COGS)*No of days

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A: Income statement: It tells the profitability of the company. All the revenues and expenses of those…

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A: •Accounts Receivable Turnover = Net Sales  / Average Accounts Receivable 8 = Net Sales / $6,250 Net…

Q: Based on the following data for the current year, what is the number of days' sales in inventory…

A: Average Inventory = (Inventory, beginning of year + Inventory, end of year) / 2 Average Inventory =…

Q: A company reports the following:   Cost of goods sold $4,788,800   Average inventory 292,000 Round…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory  = (Beginning…

Q: (a2) Calculate days in inventory for Kingbird, Inc. for 2017, 2018, and 2019. (Round answers to 1…

A:

Q: Wang Company's average inventory for 2019 was $75,000 and its inventory turnover for 2019 was 6.0;…

A: Average Inventory for 2019 = $75,000 Inventory turnover for 2019 = 6.0 Wang's 2019 days' sales in…

Q: A company reports the following: Cost of goods sold $335,070 Average inventory 74,460 Determine (a)…

A: Inventory turnover ratio means the number of times a company turns its inventory into sales. The…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Days sales in inventory = 365/(cost of goods sold/Average inventory)  Average inventory = (Opening…

Q: Data below are from the NIKE, Inc. financial statements in Appendix C-4 and C-6 in the textbook. For…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: Compute Altoona Company's (a) inventory turnover ratio and (b) number of days' sales in inventory…

A: Inventory Turnover Ratio:- Inventory turnover ratio is a financial metric used to measure how many…

Q: Cost of Goods Sold (Cost of sales) $1,000,000 Beginning Merchandise Inventory Ending Merchandise…

A: The inventory turnover ratio is calculated as cost of goods sold divided by average inventory.

Q: Use the follwing information for questions 14 and 15 The following information was available for…

A: The inventory turnover ratio is used to figure out, how efficiently the inventory is managed.

Q: Accounts Receivable and Inventory Turnover Use the following information to respond to the questions…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: Computing the rate of inventory turnover and days’ sales in inventory Broadway Communications…

A: Workings: Cost of Goods sold = $ 18400 Beginning Inventory = 560 Ending Inventory = 450 Average…

Q: Based on the following data for the current year, what is the inventory turnover (rounded to one…

A: Efficiency ratios are also known as activity ratios. It measures how well companies utilize their…

Q: Based on the information given in picture #1, complete the following ratios for the last TWO  years…

A: Ratio - It is the comparison between two or more financial parameter to each other for analyzing the…

Q: A company reports the following: Cost of goods sold $585,825 Average inventory 78,110…

A: Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Q: The following information is available for Bramble Corp.:   2017 2016 Accounts receivable $…

A: Inventory turnover ratio shows that how efficiently inventory is managed  Inventory turnover ratio =…

Q: A company reports the following: Cost of merchandise sold $207,320 Average merchandise inventory…

A: · Ratio analysis used to identify the business performance of the company.· It is used to measure…

Q: Rockingham Communications reported the following figures in its annual financial statements: n to…

A: Inventory turnover - 37.14 timesDays' sales in Inventory  - 9.83 daysExplanation:Step 1: Show…

Q: The following information is available for cullumber company for three recent fiscal years.…

A: Solution:- Calculation of Inventory turnover ratio as follows under:-

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A: Inventory turnover ratio (ITR) is a financial ratio that indicates how many times a company's…

Q: The Zone, Inc. has an ROE of 0.10, no debt, and a Total Asset Turnover of 2.8x. What is the Zone's…

A: Net profit margin is a measure of the profitability of a company. Days' Sales in Inventory is the…

Q: The following data were extracted from the accounting records of Harkins Company for the year ended…

A: a.Calculate the cost of goods sold of Company H.

Q: The following information is available for Marin Inc. for three recent fiscal years. Inventory Net…

A: Inventory turnover = Cost of goods sold/Average inventory Days in inventory = 365/Inventory turnover…

Q: Intel Corporation reports the following financial statement amounts in its 10-K reports. Cost of…

A: IT stands for inventory turnover is cost of goods sold divided by the average inventory where…

Q: Compute the following ratios for 2022 and 2021. Inventory on December 31, 2020, was $330. Assets on…

A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…

Q: This information is available for Kingbird, Inc. for 2017, 2018, and 2019. 2017 2018 2019 Beginning…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: Suppose that the following information is available for Nike Inc. for the current year. Beginning…

A: Lets understand the basics.INVENTORY TURNOVERInventory Turnover Ratio is the Ratio between Cost of…

Q: The following data were extracted from the income statement of Brecca Systems Inc.: Current Year…

A: Given:

Q: what is the number of days' sales in inventory

A: number of days' sales in inventory =(Ending Inventory/Cost of Goods Sold )X 365 days

Q: A company reports the following: Line Item Description Amount Cost of goods sold $2,007,500 Average…

A: Solution:a.   Inventory turnover = Cost of good sold / Average inventory…

Q: Based on the following information compute (a) inventory turnover, (b) average daily cost of…

A: Inventory turnover ratio refers to number of times inventory is sold or used in a given period.

Q: This information is available for Monty Inc. for 2021 and 2022. (in millions) Beginning inventory…

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Q: Calculate the following ratios for Lake of Egypt Marina, Inc. as of year-end 2021. (Use sales when…

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Q: The following information is available for Bridgeport Corp. for three recent fiscal years. Inventory…

A: Workings :- 1) Calculation of average inventory for 2016 :-  [Beginning inventory (2015) + ending…

Q: Next Hope reported the following income statement for the year ended December 31, 2026: View the…

A: 1. Cost of goods sold/Average inventory=Inventory turnover62,200/12,100=5.142. Number of days in the…