A retailer has annual COGS of $60 billion and reports $5 billion in inventory on its balance sheet. What is the weeks of supply?
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what is weeks of supply? accounting question
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- Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?On average, a firm sells $2,000,000 in merchandise a month. It keeps inventory equal to one-half of its monthly sales on hand at all times. If the firm analyzes its accounts using a 365-day year, what is the firm’s inventory conversion period (ICP)? (Hint: ICP = 365/(sales/inventory)
- Assume a firm's inventory level of $11,500 represents 33 days of sales. What is the annual cost of goods sold? and what is the inventory turnover ratio?On average, your firm sells $32,300 of items on credit each day. The average inventory period is 27 days and your operating cycle is 47 days. What is the average accounts receivable balance? $872,100 $1.292.000 $904,400 $646,000 $1,518,100If a firms inventory level of $10,000 represents 30 days sales, what is the annual cost od goods sold? What is the inventory turnover rate?
- ABC company's records included the following, assume 365 days in a year: Accounts Receivable, 12/31/20 $ 860,000 Accounts Receivable, 12/31/19 780,000 Merchandise Inventory, 12/31/20 900,000 Merchandise Inventory, 12/31/19 Net Sales during 2020 Cost of Sales during 2020 800,000 8,364,000 5,950,000 What is the average collection period, in days, for Solomon's accounts receivable O 35.8 days O 36.3 days O 34.1 days 37.5 dayswhat are the inventory days of supply?What is COGS?