A Firm reported year-end cost of goods sold of $10 million. It listed $2 million of inventory on its balance sheet. Using a 365-day year, how many days did the firm's inventory stay on the premise? Multiple Choice _____ 73 days _____ 20 days _____ 18.25 days _____ 2 days

Q: The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid…

A: Current Liabilities: These are liabilities that are due in less than a year and are expected to pay…

Q: A firm reports days inventory held of 60 days. The firm also reported the following balance sheet.…

A: Calculate the average accounts payable for the period by adding the accounts payable balance at the…

Q: • Calculate Rudolph's inventory turnover at December 31, 2002. • Calculate the number of days' sales…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: man.2

A: The objective of the question is to prepare journal entries for the given transactions of Pina Ltd.…

Q: Tater and Pepper Corporation reported sales of $40 million. Tater and Pepper listed $7.3 million of…

A: Days sales in inventory is calculated by 365 days / inventory turnover Inventory Turnover is…

Q: Inventory Turnover Ratio               Ending Inventory (Dec. 31st) $126,000             Month…

A: Inventory Turnover Ratio is a ratio which represent, how much inventory level is maintained by the…

Q: Sheffield Home Electronics Corp. completed the following merchandising transactions in the month of…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: Consider the following financial statement information for the Newk Corporation: Item Inventory…

A: Cost of Goods Sold (COGS):-Cost of Goods Sold represents the direct costs associated with producing…

Q: (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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: A. What is the monthly inventory turnover ratio for each of the twelve months for 2013? Round your…

A:

Q: Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: A company has an average inventory on hand of $81000 and its average days in inventory i 36 days.…

A: cash flow statement is a fiancial statement which provides data of all the cash inflows form…

Q: Suppose GameStop Company uses a periodic inventory system. Details for the inventory account for the…

A: Inventory valuation is based on the flow-off issue used by the organization. It can be the first in…

Q: Journalize the transactions for the month of April, assuming the company uses a: -  Periodic…

A: Perpetual Inventory System and Periodic Inventory System: There are two main systems—periodic and…

Q: a. EFG reports annual sales of $ 30 million. Annual costs of goods sold is $ 15 million. Inventory…

A: Inventory refers to the goods or items which are stored by the business either for selling or for…

Q: Calculate the number of days' sales in Rudolph's receivables at December 31, 2002. • Calculate…

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

Q: Consider the following financial statement information for the Newk Corporation: Item Beginning…

A: Cash conversion cycle is the metric which helps the entity to measure the time taken by an entity to…

Q: On January 1, JKR Shop had $480, 000 of beginning inventory at cost. In the first quarter of the…

A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

Q: Marketing: Determine the stockturn rate of a retailer carrying an average inventory at cost of…

A: Calculate the stockturn rate of a retailer:

Q: Suppose at December 31 of a recent year, the following information (in thousands) was available for…

A: First calculate average inventory.

Q: Consider the following details about a firm from the past year. Assume that this sample time period…

A: The days in inventory represent the number of days taken by the entity to sell the inventory. The…

Q: Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: ing business CA You are considering an investment in the common stock of Wal-Mart. The following…

A: Formula used: Inventory turnover ratio=Cost of salesAverage Inventory

Q: company started the year with $10,000 of inventory. Purchases for resale during the year were…

A: The cost of goods sold can be calculated by adding up the cost of merchandise purchased and…

Q: Need help for this question

A: Given, Sales = $300,000Gross Profit Rate = 45%Using,Gross Profit = Sales * Gross Profit Rate Gross…

Q: W. Glass & Company reported the following information in its recent annual report: Year 1 Year 2…

A: Average Inventory = Beginning inventory + Ending inventory2                       For Year 1 =…

Q: Given the following information, how many times does the firm turnover its inventory during the…

A: Inventory turnover ratio is computed as follows:-Inventory turnover ratio =