Anthony Corporation reported the following amounts for the year:           Net sales $ 296,000   Cost of goods sold   138,000   Average inventory   50,000     Anthony's average days in inventory is: (Round to the nearest whole day.)   Multiple Choice   170 days.   114 days.   132 days.   151 days.

Q: Brill Company reported the following year-end amounts: Beginning Inventory $7,650 Net Cost of…

A: Formula: Ending Inventory = Beginning Inventory + Net purchases - Cost of goods sold

Q: A company had the following purchases during its first year of operation Purchases Sales January…

A: Introduction:- FIFO means First in first out method. It is one of the inventory valuation method.…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Days sales in inventory = 365/(cost of goods sold/Average inventory)  Average inventory = (Opening…

Q: Altis Company reported the following information for the currentyear: Sales (100,000 units atP150).…

A: The cost of goods sold means the cost of producing the goods which are being sold by the…

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: Find the inventory turnover at retail of Walker Manufacturing. The starting inventory at retail was…

A: The inventory turnover at retail can be calculated using the formula: Inventory turnover at retail =…

Q: On January 1, Veltron International has inventory worth $599,900 at cost. At the end of the year,…

A: Inventory turnover is the number of times inventory is sold and replaced during the year. It…

Q: How much is the Company’s cost of goods sold during the year?

A: The following information is given: Current ratio: 3.5 to 1Acid-test Ratio: 3.0 to 1Current…

Q: Inventory records for Dunbar Incorporated revealed the following: Date Transaction Apr. 1Beginning…

A: FIFO method is one of the methods of inventory valuation in which it is assumed that old purchases…

Q: Marian Company reported the following items for the month of July: Sales revenue $470,300 Cost of…

A: Days inventory outstanding is calculated by dividing 365 days by inventory turnover ratio. The…

Q: A business has compiled the following information for the year ended 31 October 20X2: $ Opening…

A: Sales revenue = Cost of goods sold /  ( 1 - Gross profit rate )

Q: Bolton Company has a beginning merchandise inventory of $500 and an ending merchandise inventory of…

A: Days sales in inventory is computed by dividing the average inventory by the average daily cost of…

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: 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: Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days Belt Company had net sales…

A: Average inventory = (Beginning inventory + Ending inventory)/2 Inventory turnover ratio = Cost of…

Q: Rams Inc reported the following amounts for the year: It uses periodic method Ending…

A: Cost of sales can be computed as follows, =Opening inventory level + Purchases made - Purchases…

Q: Provide correct answer for this question

A: Step 1: Definition of Gross ProfitGross profit means the excess of sales over direct expenses. Gross…

Q: final answers to 1 decimal place. Cost of Goods Sold $720,000 Beginning Inventory 51,000 Ending…

A: Efficiency ratios are also known as activity ratios. It  measure how well companies utilize their…