Inventory turnover________ timesDays in invitory __________ days Question 4 Of-/25Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022are presented below,Beginning ofEnd of YearYearCash and cash equivalents$1.135$ 112Accounts receivable (net)3,2003,000Inventory1,4001,400Other current assets817470Total current assets$6,552$4,982Total current liabilities$3,120$2,482For the year, net credit sales were $12,710 million, cost of goods sold was $8,260 million, and net cash provided by operating activitieswas $1,253 million.Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for thecurrent year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.)Current ratio:1Accounts receivable turnovertimesAverage collection perioddaysMacBook Proesc24.68QERYPAS DGHJKLMoptioncommandcommandoption

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Description: Inventory turnover________ timesDays in invitory __________ days Question 4 Of-/25Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022are presented below,Beginning ofEnd

Current Ratio: This ratio helps in measuring the firm's ability to pay short-term liabilities.…

Business

Finance

Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.)

Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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QUESTION 4 The following information was extracted from the accounting records of ABC Manufacturers for the year ended September 2020: UNITS Inventory at the beginning of the year Production for the year Sales for the year (at R75 per unit) Nil 20 000 18 250 Direct Materials cost per unit Direct Labour cost per unit Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost Fixed selling and administrative cost The company utilises the first-in-first-out method of inventory valuation. 21 7 8 182 000 77 000 REQUIRED: 4.1 Prepare the Income Statement using the Marginal Costing method. 4.2 Prepare the Income Statement using the Absorption Costing method.
owe subject-Accounting
16. Work in Process inventory, Feb. 28 1. 20 Summarized data for jobs worked on during 20. Cost of Goods Sold for February O a. P1.500 О а. Рб,500 COSTS INCURRED O b. P19,900 O b. P7,500 JOBS January February March O. P7,500 O. P20,000 A P5,000 O d. P15,300 O d. P7.000 В 3,000 2,500 17. Finished Goods inventory, Feb. 28 D 1,500 4,000 3,500 O a. P7,500 F 5,800 6,500 о b. Р3,000 G 9,600 3,800 O. P7,000 4,500 4,200 O d. P5,500 3,000 7,000 18. Finished Goods inventory, March 31 O a. P7,000 Jobs Completed Jobs Sold January А В A, C O b. P7,500 February DE B О с. Р5,500 March GH J GH O d. P3,000 Work in Process inventory, Jan. 31 19. Cost of Goods Sold for January O a. P15,300 O a. P7.000 O b. P7,500 O b. P7,500 O. P1,500 O. P20,000 O d. P19,900 O d. P10,500
True or false This year’s beginning inventory is always last years’ ending inventory?
Question Consider the following costs that were incurred during the current year and determine whether the cost is a product cost or a period cost.a) Advertising costs. ________b) Cost of Material used. ________c) CEO’s salary. ________d) Sales Commissions. ________
DATA ENVELOPMENT ANALYSIS OUTPUT INPUT STORE LOCATION SALES EBITDA STORE ARE(SQ.FT) #EMPLOYEES 1 A 47,682,116 7,459,291 35,523.00 62.0 2 B 42,612,114 3,880,099 39,493.00 75.00 3 C 44,187,228 4,215,221 39,731.00 79.00 4 D 30,487,610 4,201,924 35,833.00 77.00 5 E 41,535,542 5,182,632 36,552.00 75.00 6 F 24,497,561 3,079,086 37,328.00 61.00 7 G 43,749,818 6,485,312 38,709.00 79.00 8 H 24,081,113 1,820,738 37,827.00 66.00 9 K 44,711,757 6,310,682 35,631.00 66.00 10 L 32,138,829 125,696…
ok ences QS 14-12 (Algo) Preparing a balance sheet LO P1 Prepare the current assets section of the balance sheet at December 31 for Bin Manufacturing using the following information. Hint Not all information given is needed for the solution. Cash Accounts payable Raw materials inventory General and administrative expenses Accounts receivable, net Selling expenses Finished goods inventory Work in process inventory Prepaid insurance Cost of goods sold BIN MANUFACTURING Current Assets Section of the Balance Sheet December 31 Total current assets $ 22,100 2,100 8,100 42, 100 12, 100 12, 100 22, 100 18, 100 4,100 33, 100
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Question 3 Assume Orion Iron applies its inventory costing method perpetually at the time of each sale. At the end of the annual accounting period, December 31, the accounting records provided the following information: a. Inventory, Beginning For the year: b. Purchase, April 11 Transactions Units Unit Cost 3,000 $12 9,000 10 c. Purchase, June 1 d. Sale, May 1 (sold for $40 per unit) e. Sale, July 3 (sold for $40 per unit) 8,000 13 13 3,000 6,000 f. Operating expenses (excluding income tax expense), $195,000 Requirement 1 Calculate the cost of ending inventory and the cost of goods sold using the FIFO method.
18. Finished Goods inventory, March 31 1. 20 Summarized data for jobs worked on during О а. Р7000 COSTS INCURRED O b. P7,500 JOBS January February March Ос. Р5,500 A P5,000 O d. P3,000 B 3,000 2,500 19. Cost of Goods Sold for January D 1,500 4,000 E 3,500 O a. P7,000 F 5,800 6.500 O ь. Р7,500 G 9,600 3,800 O. P20,000 Ос. H 4,500 4,200 O d. P10,500 3,000 7,000 20. Cost of Goods Sold for February Jobs Completed Jobs Sold О а. Рб,500 January AB C A. C O b. P7,500 February DE В Е BE O. P20.000 March GH J GH O d. P7,000

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