Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.

Q: What does inventories /sales ratio mean?

A: An accounting metric used to measure liquidity, solvency, efficiency etc. of a business entity is…

Q: How is Day Sales in Inventory calculated?

A: Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Q: Define the term merchandise returns.

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: How are days’ sales in inventory calculated, and what does it measure?

A: Numbers of days to sell inventory: This ratio is determined as the number of days a particular…

Q: How do you measure gross margin return on inventory(GMROI)?

A: GMROI is a measure of inventory profitability where, it measures how much profit does the sales…

Q: Determine the gross profit from sales for the period.

A: Revenue:   It refers to the earnings of an organization form business operations for a particular…

Q: ost per unit of purchases over a period r decrease in purchases in relation to the

A: Data is unprocessed facts or figures that are not organzied.Information is processed and organized…

Q: How would I go about finding the previous reported sales, when I have the current sales and the…

A: Given: Current Sales Percentage increase in Sales

Q: How to calculate total selling expense

A: Selling expenses are the expenses incurred to sell a product to the customer.

Q: Calculate Sandhill's net sales, cost of goods sold, and gross profit for these sales. Net sales Cost…

A: Gross Profit = Sales - Cost of Goods SoldGross Profit is derived by deducting cost of goods sold…

Q: Explain percent of sales method.

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Which numbers do I need to use to compute the sales

A: Sales is the dollar value received by selling any number of units.

Q: What impact has a JIT inventory system on operating income?

A: JIT or just-in-time is a stock administration technique in which material, labor and products (to be…

Q: Gross profit is calculated as the difference between net sales revenue and​ ________.         A.…

A: Revenue- Revenue refers to the quantity of cash that a corporation actually received during the…

Q: What is the formula for calculating sales tax? A. Amount of Purchase x Sales Tax Rate = Sales Tax B.…

A: Sales tax : Sales tax is the amount that the merchant must charge to customers who purchase the…

Q: Define days' sales in inventory (what do the results mean). Provide an example

A: Days sales in inventory means how much days company will take to convert its inventory into sales.…

Q: How do you calculate gross profit as a percentage of sales?

A: Gross profit as a percentage of sales, also known as gross profit margin, is a financial metric used…

Q: The gross margin estimation method estimates the cost of goods sold by O multiplying the costs to…

A: Gross Margin Estimation Methods for Cost of Goods Sold (COGS) are financial techniques used to…

Q: Concept introduction Gross profit ratio: Gross profit ratio calculated by dividng the gross profit…

A: Cost of goods sold means cost incurred on goods or cost of goods that are being offered for sale to…

Q: Define Inventory turnover ratio.

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.