Calculate the beginning inventory in the following case: • Sales: $58,000 Purchases: $35,000 Closing Stock: $3,500 • Gross Loss on Sales: 1/6 What is the value of the beginning inventory?
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- Question: The quick ratio is 0.81. Current assets are $103,000 and current liabilities are $79,000. What is the amount in the inventory account?Consolidated Industries' Financial Statements show the following: Net Income = 1,000; Sales = 8,000 Inventory = 500; Accounts Payable = 1,200; Salaries = 700; Rent = 400; Current Assets = 2,800; Current Liabilities = 2,400; Total Liabilities = 3,600; Total Assets = 7,000; Total Equity = 3,400. What is the Common Sized Value for Inventory? Question 9 options: 14.7% 50.0% 7.1% 6.3% 17.9%What would the ending inventory be ??
- ACTIVITY 1. MULTIPLE CHOICE wblupi moit boog aamoz a adT Directions: Encircle the letter of the correct answer. 1. MCL Company has a total quick asset of P100,000.00 and quick ratio of 10. How much is the current liabilities of the entity? a. P1,000,000.00 b. P1,100,000.00 c. P900,000.00 d. P10,000.00 2. If the company's net sales is P250,000.00 and the average accounts receivable is P50,000.00, what is the A/R turnover ratio? c. P200,000.00 m d. P300,000.00 a. 5 To Coubrc bns 00.000,000 3. From a current ratio of 4 in 2018, the current ratio of the company is 5 in 2019. b. 1/5 a. This is something good from a liquidity standpoint. b. This is something bad from a liquidity standpoint c. This data has no implication on the liquidity status of the company. d. All of the above.Beginning inventory??Below is an extract from Aluki Ltd.'s statement of financial position: Total current assets £40,000 Total current liabilities £20,000 If the company’s current ratio is 2:1 and its quick test (or acid ratio) is 1:1, what must the value of inventory be? a) £20,000 b) £40,000 c) £60,000 d) £30,000
- The beginning inventory must have been__.The last accounting period?A company’s beginning inventory is $150,000, its net purchases are $230,000, and its netsales total $440,000. Its normal gross profit percentage is 30% of sales. Using the grossprofit method, how much is ending inventory?a. $132,000b. $72,000c. $210,000d. $228,000