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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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.

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.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 17MCQ: ( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory...

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R F Brave Company has the following inventory information. Accounting Transactions Date O $6,701 % July 1 Beginning Inventory 5 Purchases 14 Sale 21 Purchases 30 Sale O $6,654 O $6,423 O $6,203 Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis? O $6,516 5 ^ Transaction 6 O Search the web & 7 to 144 * to Dill 8 00 ( f10 PPI 9 15 units at $92 124 units at $93 76 units 60 units at $90 51 units Units and Cost GHJK O -jam- ( |K|L prt sc { + 4