Assumino that all net sales floures are at ratad and all cost of ooods sold floures are at cost. calculate the averaoe inventorv fin S) and inventorv turnover for the followina. If the actual tumover is less than the published rate. caloulate the taroet averaoe Inventorv fin S) necessary to come uo to industry standards. If the actual tumover is greater than the publshed rate, enter "above" for taroet average Inventory. Round Inventories to the nearest dollar and inVentory tumovers to the nearest tenth. Target Average Inventory Cost of Beginning Goods Sold Inventory Inventory Ending Average Inventory Inventory Turnover Published Net Sales Rate $325,000 $46,000 $56,000 108225 54 6.0 $4.8

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
icon
Related questions
Question

Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost, calculate the average inventory (in $) and inventory turnover for the following. If the actual turnover is less than the published rate, calculate the target average inventory (in $) necessary to come up to industry standards. If the actual turnover is greater than the published rate, enter "above" for target average inventory. Round inventories to the nearest dollar and inventory turnovers to the nearest tenth.

 

Net Sales = 325,000

Beginning Inventory = 46,000

Ending Inventory = 56,000

Published Rate = 6.0

 

Solve for the following:

Average Inventory = $

Inventory Turnover =

Target Average Inventory = $

Assumino that all net sales floures are at ratad and all cost of ooods sold floures are at cost. calculate the averaoe inventorv fin S) and inventorv turnover for the followina. If the actual tumover is
less than the published rate. caloulate the taroet averaoe Inventorv fin S) necessary to come uo to industry standards. If the actual tumover is greater than the publshed rate, enter "above" for
taroet average Inventory. Round Inventories to the nearest dollar and inVentory tumovers to the nearest tenth.
Target
Average
Inventory
Cost of
Beginning
Goods Sold Inventory Inventory
Ending
Average
Inventory
Inventory
Turnover
Published
Net Sales
Rate
$325,000
$46,000
$56,000
108225
54
6.0
$4.8
Transcribed Image Text:Assumino that all net sales floures are at ratad and all cost of ooods sold floures are at cost. calculate the averaoe inventorv fin S) and inventorv turnover for the followina. If the actual tumover is less than the published rate. caloulate the taroet averaoe Inventorv fin S) necessary to come uo to industry standards. If the actual tumover is greater than the publshed rate, enter "above" for taroet average Inventory. Round Inventories to the nearest dollar and inVentory tumovers to the nearest tenth. Target Average Inventory Cost of Beginning Goods Sold Inventory Inventory Ending Average Inventory Inventory Turnover Published Net Sales Rate $325,000 $46,000 $56,000 108225 54 6.0 $4.8
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Rate of Change
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education