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: The following company information is available: Average accounts receivable $800,000​ Average…

A: The objective of the question is to calculate the company's inventory turnover ratio. The inventory…

Q: Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill…

A: Ratio analysis helps the management to evaluate the performance of the entity, facilitate future…

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A: Step 1: What is Sales:Sales are the primary activity on which the company can earn a profit. There…

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

A: Inventory turnover ratio is a ratio which determines how efficiently and effectively the inventory…

Q: The following information is taken from the books of Nicki Incorporated: July Beginning inventory…

A: Step 1: Introduction to Ending Inventory:Ending inventories are the amount of inventory that was not…

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A: Step 1:Introduction to the Gross Profit PercentThe gross profit percentage can be explained as the…

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…

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A: Average days to pay payables is the measure which helps the entity to determine its efficiency in…

Q: solve Question with answer of a and b

A:

Q: Brill Company reported the following year-end amounts: Beginning Inventory $7,650 Net Cost of…

A: Formula: Ending Inventory = Beginning Inventory + Net purchases - Cost of goods sold

Q: If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on…

A: Given, Gross profit rate = 30% Gross profit = Sales*Gross profit rate Cost of goods sold = Sales -…

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: Revenue Section, Multiple-Step Income Statement Based on the information that follows, prepare the…

A: Net Sales = Sales - Sales Return - Sales Discount

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: 18. $ Net Sales 19. $ Calculate cost of goods sold 20. $ Gross profit 21. % Gross profit ratio…

A: Calculation of net sales, cost of goods sold, gross profit, and gross profit ratio are as follows

Q: Using the data below, compute lan's gross profit percentage for the month of January. Net Sales Cost…

A: Step 1: Compute the gross profit as follows:

Q: Compute the average days in inventory rounded to the nearest whole day based on the following data:

A: Average days in inventory is calculated to how quickly a company can convert its inventory into…

Q: A company reports the following: Cost of goods sold Average inventory Determine (a) the inventory…

A: Inventory turnover and number of days sales in inventory are two important financial metrics used by…

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: Applying the Cost of Goods Sold Model Milton Company reported beginning inventory of $74,000 on…

A: The cost of goods sold (COGS) represents the direct expenses incurred by a company to produce goods…

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A: DAYS SALES IN INVENTORY Days Sales in Inventory is the ratio between 365 Days & Inventory…

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…

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

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A: 1:  Lewis:Cost of goods sold: $266,200 Clark:Cost of goods sold: $173,600  2: Lewis: Inventory…

Q: The following information is taken from the books of Nicki Incorporated: July Beginning inventory…

A: Step 1: First, we will calculate the cost of goods sold for July: Gross profit=Sales−Cost of goods…

Q: What is the gross margin percentage

A: Gross margin is the net gain an entity recieved on selling goods without considering expense that is…

Q: Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold…

A: The financial ratios helps to analyse the financial statements of the business on the basis of…

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: Revenue and expense data for the current calendar year for Tannenhill Company and for the…

A: The differences between the industry and company net income will be due to differences in the cost…

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: Sellall Department Stores reported the following amounts as of its December 31 year-end:…

A: The gross profit is calculated as difference between sales and cost of goods sold. The gross profit…