Need a,b,c,d Suppose that a firm has an ending inventory of $121,000 as of December 31, 2012. The accounting information for 2013 has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Question S A. What is the monthly inventory turnover ratio for each of the twelve months for 2013? Round your answers to two decimal places.B. What is the total cost of goods sold for the year? Round your answer to the nearest dollar.C. What is the average monthly inventory? Round your answer to the nearest cent.D. What is the annual inventory turnover ratio? Do not round intermediate calculations. Round your answer to two decimal places. PasteUndo ClipboardF13LG5Month6 January7February8 March9 April10 May11 JuneRENGETEGA1 Inventory Turnover Ratio23 Ending Inventory (Dec. 31st)412 July13 August14 September15 October16 November17 December18B IU DabFontfx=FORMULATEXT(D13)BASheet1 +Calculation Mode: Automatic Workbook Statistics#Type here to search$121,000Ending Inventory$53,000$85,000$82,000$50,000$76,000$81,000$150,000$213,000$68,000$105,000$161,000$107,000Tillce wrap textMerge & CenterAlignmentCost of Goods Sold$89,000$1,250,000$910,000$760,000$990,000$900,000$556,000$1,320,000$982.000$900,000$1,280,000$1,000,000O 21Total COGSAverage monthly inventoryAnnual Inventory RatioGeneral$%8DNumberInventory Turnover RatioLIZAConditional Format As StylesFormatting Table vFormulas#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/A#N/ATablesInsertY

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Answered: A. What is the monthly inventory…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Need a,b,c,d

Suppose that a firm has an ending inventory of $121,000 as of December 31, 2012. The accounting information for 2013 has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Question S

A. What is the monthly inventory turnover ratio for each of the twelve months for 2013? Round your answers to two decimal places.

B. What is the total cost of goods sold for the year? Round your answer to the nearest dollar.

C. What is the average monthly inventory? Round your answer to the nearest cent.

D. What is the annual inventory turnover ratio? Do not round intermediate calculations. Round your answer to two decimal places.

Paste
Undo Clipboard
F13
LG
5
Month
6 January
7
February
8 March
9 April
10 May
11 June
RENGETEG
A
1 Inventory Turnover Ratio
2
3 Ending Inventory (Dec. 31st)
4
12 July
13 August
14 September
15 October
16 November
17 December
18
B IU Dab
Font
fx=FORMULATEXT(D13)
B
A
Sheet1 +
Calculation Mode: Automatic Workbook Statistics
#
Type here to search
$121,000
Ending Inventory
$53,000
$85,000
$82,000
$50,000
$76,000
$81,000
$150,000
$213,000
$68,000
$105,000
$161,000
$107,000
Till
ce wrap text
Merge & Center
Alignment
Cost of Goods Sold
$89,000
$1,250,000
$910,000
$760,000
$990,000
$900,000
$556,000
$1,320,000
$982.000
$900,000
$1,280,000
$1,000,000
O 21
Total COGS
Average monthly inventory
Annual Inventory Ratio
General
$%8
D
Number
Inventory Turnover Ratio
LIZA
Conditional Format As Styles
Formatting Table v
Formulas
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
Tables
Insert
Y

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