A company has sales of $1,200,000. COGS is $900,000. Average inventory is $200,000. What is the inventory period? A- 0.22 days B- 81 days C- 4.5 days D- 6 days

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: 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: A company has an average inventory on hand of P100,000 and the days in inventory are 73 days. What…

A: Days in inventory=Average inventoryCost of goods sold×365 days

Q: The following information is available for Heller Company: Beginning inventory $60,000 Cost of goods…

A: Inventory turnover8 timesDays in inventory45.6 daysExplanation:Inventory TurnoverInventory Turnover…

Q: if the cost of goods sold is $ 400,000 and credit purchases is $250,000, the inventory balance at…

A: Inventory days turnover is calculated by dividing the number of days in a year by inventory turnover…

Q: If a company has beginning inventory of $30,000 and ending inventory of$55,000, compute its average…

A: Beginning inventory = $30000 Ending inventory =$55,000 COGS = $140,000 Average inventory = Beginning…

Q: A company has cost of goods sold of $85,000 and ending inventory of $18,000. Its days’ sales in…

A: Given, A company have the cost of goods sold at the rate of $85,000 and the ending inventory having…

Q: A company has $72,500 in inventory at the beginning of the accounting period and $65,500 at the end…

A: Average Inventory = (Beginning inventory + Ending inventory)/2

Q: A company reports the following:Cost of goods sold                           $660,000Average…

A: (a)

Q: Anthony Corporation reported the following amounts for the year: Net sales Cost of goods sold…

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…

Q: Blue Company has the following data for the year: $140,000 Beginning inventory Net sales revenue…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is…

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 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: Endor Company begins the year with $110,000 of goods in inventory. At year-end, the amount in…

A: The inventory turnover tells about the efficiency of the business to convert its inventory into…

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: A company’s beginning inventory is $150,000, its net purchases are $230,000, and its netsales total…

A: Gross profit method: It refers to a method that allows the business in estimating the value of the…

Q: A Co had sales of $220,000 and purchases of$160,000, together with opening inventory and closing…

A: We have the following information: Sales: $220,000 Purchases: $160,000 Opening Inventory: $24,000…

Q: Nizwa Company had the cost of goods sold of $ 160,000 and inventory balance was $23,000. What is the…

A: Inventory turnover ratio = cost of goods sold / average inventory

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: Suppose Domino's had cost of goods sold during the year of $290,000. Beginning merchandise inventory…

A: INVENTORY TURNOVER RATIO inventory Turnover Ratio is the Ratio Between Cost of Goods Sold &…

Q: A retailer’s total sales are $1,000,000 and the gross margin percentage is 60%. Thebeginning and…

A: Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,…

Q: Stoney Brooke, Inc. has sales of $890,000 and cost of goods sold of $640,000. The firm had a…

A: Given that,  sales = $890000 cost of goods sold =$ 640000 Beginning inventory =$ 36000 Ending…

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: A company reports the following:   Cost of goods sold $2,263,000   Average inventory 182,500…

A: Introduction: Inventory turnover is a financial ratio that shows how frequently a company's…

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

A: Inventory accounting is the method of accounting that deals with the valuation and reporting of…

Q: Landis Company is preparing its financial statements. Gross margin is normally 40% of sales.…

A: Cost of Goods Sold :— It is the cost of units sold during the period.  Cost of Goods sold =…

Q: $42,000. What is the estimated amount of ending inventory at the end of the period? Multiple Choice…

A: Sales comprises of gross margin and the cost of goods sold.  Gross margin is given at 40% of the…

Q: Sales are $110,000. Purchases are $80,000. Opening inventory is $12,000. Closing inventory is…

A: Cost of goods sold (COGS) is calculated as follows: COGS = (Opening Inventory + Purchases) - Closing…

Q: A company reports the following:Cost of goods sold                                $435,000Average…

A: a. Compute inventory turnover ratio.