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 ??
- 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) £30,000The 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. $228,000What is the inventory turnover if COGS is $10,000, beginning inventory was 200, and ending inventory was 76?How much was the ending inventory last accounting period?