Calculate the beginning inventory in the following case: ⚫ Sales: $72,000 • Purchases: $42,000 ⚫ Closing Stock: $5,200 • • Gross Profit on Sales: 1/4 What is the value of the beginning inventory?
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- Use the following information: Net sales Cost of goods sold $235,000 168,000 52,000 42,000 Beginning inventory Ending inventory a. Calculate the inventory turnover ratio. b. Calculate the average days in inventory. c. Calculate the gross profit ratio.If firm’s beginning inventory is $70,000, purchases are $320,000, and the cost of good sold is $300,000, what is its ending inventory?a. 260,00b. $30,000c. $90,000d. $330,000Question: 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?
- Beginning inventory??How much was the ending inventory last accounting period?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%
- Complete the following: (Round your answers to the nearest hundredth.) Average Inventory at Cost Average Inventory at Retail Net Sales Cost of Goods Sold Inventory Turnover at Cost Inventory Turnover at Retail $14,000 $21,540 $70,000 $49,800The beginning inventory must have been__.What is the inventory turnover if COGS is $10,000, beginning inventory was 200, and ending inventory was 76?