Problem 16-17 (Algo)The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air filters for residential heating and air-conditioning systems. These filters are made in a single plant located in Louisville, Kentucky, in the United States. They are distributedto retallers through wholesale centers in 100 locations in the United States, Canada, and Europe. You have collected the following datarelating to the value of Inventory in the U.S. Airfilter supply chain:Sales (total quarter):United statesCanadaEuropeCost of goods sold (total quarter)Raw materials at the Louisville plant(end-of-quarter)Work-in-process and finished goods atthe Louisville plant (end-of-quarter)Distribution center inventory(end-of-quarter):United statesCanadaEuropeAverage inventory turnoverQUARTER 1(JANUARYTHROUGHMARCH)4461116148893184QUARTER 3(JULYTHROUGHSEPTEMBER)JUNE)All amounts in millions of U.S. dollars45197QUARTER 2(APRIL THROUGH4367240O Reduce the amount of Inventory or increase sales or bothO Reduce the amount of Inventory or reduce sales or bothO Increase the amount of Inventory or Increase sales or both43467124532054241674558857131a. What is the average Inventory turnover for the firm? (Round your answer to 3 decimal places.)34289b. If you were given the assignment to Increase Inventory turnover, what would you focus on?QUARTER 4(OCTOBERTHROUGHDECEMBER)524166195699826658246c. The company reported that it used $500M worth of raw material during the year. On average, how many weeks of supply of rawmaterial are on hand at the factory? (Round your answer to 2 decimal places.)Weeks of raw material supply

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Description: Problem 16-17 (Algo)The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air filters for residential heating and air-conditioning systems. These filters are made in a single plant located in Louisville, Kentucky,

Inventory Turn over Ratio :— Inventory turnover is a financial ratio showing how many times a…

Business

Accounting

Distribution center inventory (end-of-quarter): United states Canada Europe 497 45 19 53 5 34 20 9 a. What is the average Inventory turnover for the firm? (Round your answer to 3 decimal places.) Average inventory turnover b. If you were given the assignment to Increase Inventory turnover, what would you focus on? O Reduce the amount of Inventory or increase sales or both Reduce the amount of Inventory or reduce sales or both O Increase the amount of Inventory or Increase sales or both 58 24 6 c. The company reported that it used $500M worth of raw material during the year. On average, how many weeks of supply of raw material are on hand at the factory? (Round your answer to 2 decimal places.) Weeks of raw material supply

Distribution center inventory (end-of-quarter): United states Canada Europe 497 45 19 53 5 34 20 9 a. What is the average Inventory turnover for the firm? (Round your answer to 3 decimal places.) Average inventory turnover b. If you were given the assignment to Increase Inventory turnover, what would you focus on? O Reduce the amount of Inventory or increase sales or both Reduce the amount of Inventory or reduce sales or both O Increase the amount of Inventory or Increase sales or both 58 24 6 c. The company reported that it used $500M worth of raw material during the year. On average, how many weeks of supply of raw material are on hand at the factory? (Round your answer to 2 decimal places.) Weeks of raw material supply

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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Platinum Taco Shell Inc. uses a retail inventory method. Below is last year's data: Cost Retail Beginning inventory 347,900 784,000 Purchases 730,100 980,000 Freight in 39,200 Mark ups 98,000 Mark downs 116,375 Sales 686,000 Inflation factor: 1.1 What is the Ending Inventory under Dollar value LIFO, conventional retail, and average cost? What is the COGS under Dollar value LIFO, conventional retail, and average cost?
QUESTION 15 During a period when inventory costs are steadily increasing, which of the following is true? O a. Net income will be higher under LIFO than under FIFO. O b. Cost of goods sold will be lower under LIFO than under FIFO. O c. Ending inventory value will be higher under LIFO than under FIFO. O d. Income taxes will be lower under LIFO than under FIFO.
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1 View Policies Current Attempt in Progress The cost of goods sold computations for Flint Company and Pina Colada Company are shown below. Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold (a1) Inventory turnover eTextbook and Media norcal archives 20....zip Flint Company ^ $ 46,000 197,500 W 243,500 55,000 $188,500 Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.) Flint Company Pina Colada Company $72,500 OCA 5.docx 294,000 366,500 73,000 $293,500 Pina Colada Company W response essay.docx
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3. Asset management ratios Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio. Consider the following case: Crockett Electronics has a quick ratio of 2.00x, $33,525 in cash, $18,625 in accounts receivable, some inventory, total current assets of $74,500, and total current liabilities of $26,075. The company reported annual sales of $200,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory? 8.01x 8.95x 2.86x 9.85x The inventory turnover ratio across companies in the electronics industry is 9.845x. Based on this information,…