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- Liberty Solutions Inc. has annual sales of $125 million, inventory valued at $35 million, and $18 million in accounts receivable. Determine the Inventory Turnover Ratio (ITR) and Days Sales Outstanding (DSO), assuming an industry average of 90 days.
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- Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
- Universal Calendar Company began the year with accounts receivable (net) and inventory balances of $100,000 and $80,000, respectively. Year-end balances for these accounts were $120,000 and $60,000, respectively. Salesfor the year of $600,000 generated a gross profit of $200,000. Calculate the receivables and inventory turnover ratios for the year.Earnings per share: O a. will decrease if net income decreases and the number of treasury shares increases. O b. will decrease if net income decreases and the number of shares outstanding increases. c. is the total amount of dividends paid per year on a per share basis. o d. will increase if net income increases and the number of shares outstanding increases. O e. is defined as the addition to retained earnings divided by the number of shares outstanding.Palmer Co. had cost of goods sold of $7,576, ending inventory of $2,270, and average inventory of $2,167. Calculate the inventory turnover. Calculate the day’s sales in inventory. What do these ratios tell you about inventory management at Palmer Co. if the industry average is a turnover of 3.3 and the day’s sales in inventory is 130 days?
- If a company has beginning inventory of $30,000 and ending inventory of$55,000, compute its average inventory. If the COGS is $140,000, computeits inventory turnover and determine how many days the average item is instock.For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Calculate (i) the inventory turnover ratio for the year (ii) accounts receivable turnover ratio for the year (iii) the average days of sales were in Accounts Receivable during the year (iv) average days of sales in Inventory during the year.A sole proprietorship firm has taxable income of $128,200. Assume this is the sole source of income for the owner. Taxable Tax Rate Income 9,525 10 % %$4 9,526 38,700 12 38,701 82,500 22 82,501 157,500 24 157,500 – 200,000 32 The marginal tax rate is percent
- GREEN Enterprises reported the following information for the current year: Inventory, January 1 - P2,300,000; Purchases - 27,105,000; Purchase returns and allowances - 520,000; Sales returns and allowances - P692,000; Inventory, December 31 - 2,470,000. Gross profit rate on net sales is 20%. What is the amount of gross sales for the current year?Assume a firm's inventory level of $11,500 represents 33 days of sales. What is the annual cost of goods sold? and what is the inventory turnover ratio?Vijay