ell's Machine Manufacturing Co reported its sales as R120 000, a gross profit of R50 000 and current liabilities of R25 000. If the current ratio is 2,5 and the quick ratio is 1,75, what is the inventory turnover for the company?

Q: Gross profit of  Company amounted to 175,000. Beginning Inventory totaled 250,000. Ending Inventory…

A: Formula: Cost of Goods sold = Beginning inventory + Net purchases - Ending Inventory.

Q: Calculate the value of cost of goods sold for Thompson company given the following information:…

A: Quick Ratio = Liquid Assets / Current Liabilities Current Ratio = Current Assets/ Current…

Q: In 2021, Miralku Power Corp had sales of P200 million, and have 5.O inventory turnover ratio. The…

A: Sales = P200 million Inventory turnover ratio = 5.0 Inventory = Sales/Inventory turnover ratio…

Q: XYZ Corporation has ending inventory of $736,928, and cost of goods sold for the year just ended was…

A: Inventory turnover is a financial ratio that measures how many times a company's inventory is sold…

Q: (a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and…

A: The question is related to Ratio Analysis. The formula used 1.Current Ratio is calculated with the…

Q: The following data were obtained from the books of JOYFUL CORPORATION: Accounts receivable, March…

A: The gross profit is calculated as the difference between sales and the cost of goods sold. The…

Q: Ivanhoe Corp. has a gross profit margin of 35.00 percent, sales of $33,000,000, and inventory of…

A: A ratio that provides information regarding the number of times a company sold or replaced its…

Q: The following information came from the income statement of the Cheyenne Company at December 31,…

A: Inventory includes all the items, merchandise, and raw materials that are used by the business…

Q: 15. Mitra Company has a quick ratio value of 1.5. It has total current assets of $100,000 and total…

A: Quick Ratio = 1.5 Current Assets = $100,000 Current Liabilities = $25,000 Sales = $200,000

Q: Current statements for Millie Company reveal the following: beginning and ending inventory balance…

A: Lets understand the basics. Days sales in inventory ratio indicates the average time in days that…

Q: ABC Company had net sales of $500,000 and cost of goods sold of $300,000. The company's average…

A: Inventory turnover ratio is a financial metric used to assess the efficiency and effectiveness of a…

Q: W&B Corp. has current liabilities of $440,000, a quick ratio of 1.8, inventory turnover of 4.5, and…

A: CURRENT RATIOCurrent Ratio is the Ratio between Current Assets & Current Liabilities. Current…

Q: JKL Company’s sales are $1,000,000 and the Cost of Sales is $400,000 The beginning and ending…

A: Formula: Inventory turnover ratio = ( Cost of sales / Average inventories ) x 100 Average inventory…

Q: Valley Markets has an inventory turnover of 3.2 and a capital intensity ratio of 1.9. What are the…

A: Lets understand the basics. Days in inventory ratio shows how many days it takes to convert raw…

Q: A company had net sales of $313,000. The beginning inventory at retail was $129,000 and the ending…

A: Turnover rate is the one which is determined by the entity to know the efficiency of something…

Q: (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is the inventory period for a firm with an annual cost of goods sold of P5 million, P1.2…

A: The inventory turnover ratio is a financial ratio that defines the number of times within which…

Q: uring the current year, merchandise is sold for $970,000. The cost of the merchandise sold is…

A: The following formulas used as follows under:- Gross Profit =Total Sales - Cost of Goods Sold Gross…

Q: If PetCo had net sales of $600,000, goods available for sale of $450,000, and cost of goods sold of…

A: Formula: Gross margin = Total sales - Cost of goods sold

Q: Soaring Eagles Corp. has total current assets of $11,320,000, current liabilities of $5,204,000 and…

A: Quick Ratio = (Current Assets - Inventory) / Current Liabilities

Q: Oriole corporation has current liabilities of $432,000, a quick ratio of 1.6, inventory turnover of…

A: Current ratio (CR) is the ratio between current asset(CA) and current liabilities(CL).CR =…

Q: Zarruk Construction's DSO is 34 days (on a 365-day basis), accounts receivable are $68 million, and…

A: DSO=34 daysAccounts Receivables=$68 millionInventory=$156 millionCost of goods sold=70% of…

Q: Triple J Company has a current ratio of 3.1. The acid test ratio is 2.4. The current liabilities of…

A: Current ratio :— It is calculated by dividing current assets by current liabilities.  Current ratio…

Q: 1. Blue Air Inc., has net sales of $723,000 and accounts receivables of $165,000. What are the…

A: Accounts receivable turnover measures how much times are the net sales of the firm in comparison of…

Q: If a company has sales of $1,300,000 and inventory of $245,000 and net income of $85,000, what is…

A: Sales = s = $1,300,000Inventory = i = $245,000Net Income = ni = $85,000

Q: A firm has sales of $1,040, net income of $208, net fixed assets of $508, and current assets of…

A: To calculate the common-size balance sheet value of inventory, we need to first find the total…

Q: What is the inventory turnover if COGS is $10,000, beginning inventory was 200, and ending inventory…

A: Inventory Turnover:This is a financial metric used to quantify the number of times inventory is used…

Q: The Zone, Inc. has an ROE of 0.10, no debt, and a Total Asset Turnover of 2.8x. What is the Zone's…

A: Net profit margin is a measure of the profitability of a company. Days' Sales in Inventory is the…

Q: BestSell Auctions carries an average inventory equal to $100,000. The company's cost of goods sold…

A: Given the following information: Average Inventory: $100,000 Cost of goods sold: $1,500,000

Q: What is the company’s inventory turnover ratio

A: The method by which it is ascertained whether there exists an optimal level of inventory in the…

Q: What is the average collection period assuming annual data is used? quarterly data is used?

A: Assuming Annual data:  Average Collection period= [Account receivable/Sales]× 365  Assuming…

Q: Ivanhoe Corp. has total current assets of $6,608,000, current liabilities of $4,255,000, and a quick…

A: The assets that are liquidated and converted in cash within a time period of one year and less than…

Q: A firm has sales of $1,040, net income of $208, net fixed assets of $508, and current assets of…

A: Total Assets = Fixed Assets + Current AssetsTotal Assets = 508+264Total Assets = $772 Common-size…

Q: The company made purchases of P60,000 and sales of P85,000 with P10,000 left in inventory. If the…

A: Gross profit is calculated as difference between sales and cost of goods sold.

Q: Following is an incomplete current-year income statement.   Determine Net Sales, Cost of goods sold…

A: Computation of the Net sales, cost of goods sold and Net Income are as follows :

Q: 1. The revenue for a firm is $2,500,000. Its cost of revenue is $850,000, and its average inventory…

A: Inventory turnover is calculated by dividing cost of goods sold by the average balance of…

Q: What would be the total fire insurance premium for Best Hardware if their $685,000 building belongs…

A: In the above question we are given: Building=685000 Contents of building=840250 The structural…

Q: Carla Vista Corporation has current liabilities of $422,000, a quick ratio of 1.9, inventory…

A: Lets understand the basics.Current ratio compares current liabilities as compared to current assets.…

Q: If a company has sales revenue of $631000, net sales of $500000, and cost of goods sold of $385000,…

A: The gross profit is calculated as difference between sales and cost of goods sold. Gross profit= Net…

Q: The following data were obtained from the books of JOYFUL CORPORATION: Accounts receivable, March…

A: To find the inventory at September 30, 2021, we can use the following formula: Gross profit = Sales…

Q: turnover

A: Formula to calculate the inventory turnover ratio is: Inventory turnover ratio = Cost of goods sold…

Q: Cullumber Corp. has a gross profit margin of 40.00 percent, sales of $39,000,000, and inventory of…

A: Inventory turnover is a ratio showing how many times a company has sold and replaced inventory…

Q: The following data were taken from the financial statements of Tokyo Corporation: Annual Sales -…

A: Inventory is part of current assets as it can be converted into cash in a short time period.…

Q: AAA's inventory turnover ratio is 13.27 based on sales of $14,200,000. The firm's current ratio…

A: The formulae to be used in the question are Inventory turnover = SalesInventoryCurrent ratio =…

Q: The following information was available for Metlock, Inc. at December 31, 2022: beginning inventory…

A: Formula: