-12°C4Use the following information for Shafer Company to compute inventory turnover for year 2.&00:18:45SkippedMcGrawHillMostly sunnyYear 2Year 1Net sales$ 650,500Cost of goods sold389,100Ending inventory78,300$ 583,500360,90079,980Multiple ChoiceО8.31О5.927.304.92Q SearchJm< Prev4 of 7Next >ENG14:21IN19-03-2024

The objective of the question is to calculate the inventory turnover for Shafer Company for the year…

Answered: -12°C 4 Use the following information…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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4 1 point Gingerbread, Corp. presents the following information for inventory purchases and sales throughout the month of December. The company uses LIFO Periodic Method for inventory. UNIT DATE TRANSACTIONS UNITS COST Beginning |inventory December 1 |1,000 $1.00 December 5 Sale December 20 December 31 500 Purchase 1,000 $1.10 Sale 500 Cost of goods sold for the month of December is type your answer.
Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) Skip to question [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Numberof Units UnitCost Total Cost Jan. 1 Beginning inventory 30 $ 32 $ 960 Mar. 4 Purchase 35 31 1,085 Jun. 9 Purchase 40 30 1,200 Nov. 11 Purchase 40 28 1,120 145 $ 4,365 For the entire year, the company sells 111 units of inventory for $40 each. 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
igagenow.com/ilrn/takeAssignment/takeAssignmentMain.. A 3|企田 Chapter 10 Lab Application eBook Compute Altoona Company's (a) inventory turnover ratio and (b) number of days' sales in inventory ratio, using the following information. Use 365 days year. Round your intermediate calculations to 2 decimal places and final answers to 1 decimal place. Cost of Goods Sold $729,000 Beginning Inventory 51,000 Ending Inventory 75,000 (a) Inventory Turnover Ratio 11.5 (b) Number of Days' Sales in Inventory Ratio 37.5 Previous Next Check My Work 0 more Check My Work uses remaining. 10:03 P 3/31/20 acer
CNOWv2 Student Help x + enow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locato... 시기 wsing Protection X Chapter 9 < Cost of merchandise sold Inventories: Beginning of year eBook Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Amsterdam Company follow: End of year 20Y4 20Y3 X Inventory Turnover 20Y4 Show Me How 20Y3 CengageNOWv2 | Online t X Search 20Y4 $3,598,900 593,000 648,000 a. Determine the inventory turnover for 20Y4 and 20Y3. Round to one decimal place. Print Item 20Y3 $3,015,630 b. Determine the days' sales in inventory for 20Y4 and 20Y3. Assume 365 days a year. Round interim calculations and final answers to one decimal place. OL 589,600 Days' Sales in Inventory days days c. Does the change in the inventory turnover and the days' sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable 593,000 10 Q 813 PrtSc Insert S 1 3/
Please do not give solution in image format thanku
ces Date March 1 March 5 March 9 March 18 March 25 March 29 Problem 6-1A (Algo) Part 3 Perpetual FIFO Perpetual LIFO Date March 1 Complete this question by entering your answers in the tabs below. March 5 Weighted Average Compute the cost assigned to ending inventory using LIFO. Total March 5 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. March 9 Total March 9 March 18 Total March 18 Units Acquired at Cost 90 units @ $50.80 per unit 220 units @ $55.80 per unit Goods Purchased # of units 80 units @ $60.80 per unit 140 units @ $62.80 per unit Specific Id 530 units Cost per # of units unit sold Perpetual LIFO: Cost of Goods Sold Cost per…
1
Exercise 5-19 (Algo) Inventory turnover and days' sales in inventory LO A3 The following is information for Palmer Company. Year 3 $ 613,825 99,400 Cost of goods sold Ending inventory Year 2 $ 396,650 89,750 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in inventory? Inventory turnover Days' sales in inventory Year 1 $361,300 94,500 Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Numerator / Denominator Inventory turnover Days' sales in inventory Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Numerator / Denominator Ratio < Prev 0 0 4 of 9 # Did Palmer improve its (a) inventory turnover from Year 2 to Year 3 and (b) days' sales in inventory from…
13 3 a and b
Please dont provide solution image based thnx
Please only answer parts a+b
Avoid solution image based thnx And answer both questions by 1 FIFO 2 LIFO

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