A business has compiled the following information for the year ended 31 October 20X2: $ Opening inventory 386,200 Purchases 989,000 Closing inventory 422,700 The gross profit as a percentage of sales is always 40% Based on these figures, what is the sales revenue for the year? A $1,333,500 B $1,587,500 C $2,381,250 D The sales revenue figure cannot be calculated from this information

Q: A business had the following information in its acounts for the year:…

A: The objective of the question is to calculate the average number of days it takes for a business to…

Q: Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of…

A: a. Calculate gross profit: Gross profit = Sales - Cost of goods sold Gross profit = $11,750,000 -…

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…

Q: 1. TAPULAN KO Company provided the following data for the current year: Inventory, January 1…

A: Cost of goods sold = Inventory, January 1 + Purchases - Purchase Returns and Allowances - Inventory,…

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

Q: Income Statement and Accounts for Merchandiser For the fiscal year, sales were $6,580,000 and the…

A: a Compute the gross profit:     Sales $6,580,000   Less: Cost of Goods sold $3,816,000   Gross…

Q: ing the current year, erchandise is sold for $900,000. The cost of the goods sold is $522,000. What…

A: Gross profit is very important for companies because it shows profit earned by company during the…

Q: A company reports the following: Line Item Description Amount Cost of goods sold $696,000…

A: The objective of the question is to calculate the inventory turnover and the days' sales in…

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

A: The inventory turnover ratio helps to analyze the efficiency of the business to convert its…

Q: GREEN Enterprises reported the following information for the current year: Inventory, January 1 -…

A: solution given Inventory, January 1 - P2,300,000  Purchases - 27,105,000 Purchase returns and…

Q: company reports the following:   Cost of goods sold $4,445,700   Average inventory 255,500 Determine…

A: Lets understand the basics. Inventory turnover ratio is a ratio which indicates how many time…

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: Determining Gross Profit During the current year, merchandise is sold for $821,000. The cost of…

A: Income Statement: Income Statement is the part of the financial statement which is prepared to…

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

A: Days sales inventory It is  an estimation of the typical number of days or time expected for a…

Q: A business has compiled the following information for the year ended 31 October 2002: $ Opening…

A: Sales = Cost of sales×10060=$952500×10060=$1587500

Q: A company reports the following:   Cost of goods sold $3,960,250   Average inventory 255,500 Round…

A: Inventory Turnover = Cost of goods sold/ Average Inventory Number of days sales in Inventory =…

Q: Assume the following sales data for a company: Line Item Description Amount Current year $891,303…

A: The following formula used to calculate as follows:-=Increased sales / Previous year sales x 100

Q: ng: Cost of goods sold $442,380 Average inventory 73,730 Determine (a) the inventory turnover

A: Given  A company reports the following: Cost of goods sold $442,380 Average inventory 73,730…

Q: The following data were taken from a company’s latest financial statements: Annual sales $2,433,332…

A: Cost of goods sold = $2,027,778 Inventories = $500,000

Q: The following data are taken from the financial statements:   Current Year Preceding Year Sales…

A: Inventory Turnover :— It is calculated by dividing cost of goods sold by average inventory.…

Q: GREEN Enterprises reported the following information for the current year: Inventory, January 1…

A: Solution..   Beginning inventory = P2,300,000  Purchase = P7,105,000  Purchase return and allowances…

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

A: Given:

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: PAKIALAMERA KO Company provided the following data for the current year: Inventory, January 1…

A: The cost of goods sold can be calculated by adding up net purchases and deducting ending inventory…

Q: The following data are taken from the financial statements:   Current Year   Preceding Year Sales…

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

Q: Assume the following sales data for a company: Line Item Description Amount Current year…

A: The objective of the question is to calculate the percentage increase in sales from the preceding…

Q: SCC Company reported the following for the current year:   Net sales $ 48,000 Cost of goods sold…

A: Inventory turnover ratio :Inventory turnover ratio indicates the demand for the product &…

Q: business has compiled the following information for the year ended 31 October 20X2: $ Opening…

A: Formula: Cost of sales = Opening inventory + purchases - closing inventory Deduction of closing…

Q: a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in…

A: Inventory turnover:   Inventory turnover ratio is a measure of liquidity, which evaluate how…

Q: A company reports the following: Cost of merchandise sold $1,861,500 Average merchandise inventory…

A: analysing of the ratio is considered to be very important part both in finance and an accounts…

Q: Ronda Company provided the following data for the current year: Inventory, January 1 - P2,000,000…

A: Gross profit means the difference between the sale revenue and cost of production. Sale means the…

Q: Determining Gross Profit During the current year, merchandise is sold for $45,870,000. The cost of…

A: The objective of the question is to calculate the gross profit, the gross profit percentage, and to…