Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Trend Percents 1 Year Ago 102.8% 111.4 100.6 Sales Cost of goods sold Operating expenses Common-Size Percents Change in Net Income Current Year 100.0% 63.4 14.2 Net Income 1 Year 2 Years Ago Ago 100.0% 100.0% 61.2 56.5 13.7 14.0 Current Year 104.0% 116.7 105.5 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. 2 Years Ago 100.0% 100.0 100.0 Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? < Change in Net Income Net Income >

Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Trend Percents 1 Year Ago 102.8% 111.4 100.6 Sales Cost of goods sold Operating expenses Common-Size Percents Change in Net Income Current Year 100.0% 63.4 14.2 Net Income 1 Year 2 Years Ago Ago 100.0% 100.0% 61.2 56.5 13.7 14.0 Current Year 104.0% 116.7 105.5 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. 2 Years Ago 100.0% 100.0 100.0 Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? < Change in Net Income Net Income >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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P palace provided the following information: Ending inventory, previous period $95,500 Ending inventory, current period $105,500 $450,550 $540,450 Sales, previous period Sales, current period Determine the inventory turnover for current period, assuming that gross profit for current year is $195,405. 2.99 times 3.43 times 3.61 times 3.27 times
Compute the Inventory turnover ratio from the following information: Opening Stock =P50,000 Closing Stock =P80,000 Material Consumed%=DP3,90,000
What is the Weighted average cost per unit?
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Please Calculate and interpret the following ratios Activity: Inventory Turnover , Receivables Turnover, Payables Turnover Profitability: ROCE, Gross Profit Margin, E/P
(1)Garcon Company | Pepper Company (2) Finished goods inventory, beginning $ 13,200 / $ 16, 750 Work in process inventory, beginning 18,000/ 22,650 Raw materials inventory, beginning 9, 800/12, 750 Rental cost on factory equipment 30, 250/26, 350 Direct labor 19, 400 / 39,400 Finished goods inventory, ending 17,300 / 16, 400 Work in process inventory, ending 26, 200/20, 400 Raw materials inventory, ending 8, 000/ 9,200 Factory utilities 14, 100/13, 750 General and administrative expenses 27, 500/53, 500 Indirect labor 12, 150 / 12, 260 Repairs-Factory equipment 4, 820/2, 350 Raw materials purchases 47,000/67,500 Selling expenses 62, 400 / 54,400 Sales 295, 320/394, 170 Cash 29, 000/24, 200 Accounts receivable, net 15,800 / 23,450
Calculating inventory turnover A7X corporation has ending inventory of $625,817, the cost of goods sold for the year just ended was $9,758,345. What is the inventory turnover? The days sales in inventory? How long, on average, did a unit of inventory sit on the shelf before it was sold?
In Year 1 and Year 2, Basilisk Manufacturing reported its gross margin as follows: Basilisk Manufacturing Partial Income Statement Year 1 Year 2 Sales $6,720,000 $7,340,000 Cost of goods sold 3,001,600 3,538,400 Gross margin 3,718,400 3,801,600 In Year 3, Basilisk Manufacturing changed its inventory valuation method. If the new inventory method had been used in Year 1 and Year 2, cost of goods sold would have been less by $100,000 in Year 1 and by $140,000 in Year 2. In the Year 3 financial statements, what should be reported for the Year 2 gross margin? Select one: O O O O a. $4,161,600 b. $3,801,600 (There would be no difference in the amount reported since the inventory valuation method wasn't changed until Year 3.) c. $3,661,600 d. $3,941,600 e. $3,561,600
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