Endor Company begins the year with $140,000 of goods in inventory. At year-end, the amount in inventory has increased to $180,000. Cost of goods sold for the year is $1,200,000. Compute Endor’s inventory turnover and days’ sales in inventory. Assume there are 365 days in the year.

Q: Daves Duds reported cost of goods sold of $2,500,000 this year. The inventory account increased by…

A: Beginning inventory = Ending inventory +/- Decrease/Increase in inventory Purchases = Cost of goods…

Q: The cost of goods sold for a company for the year was $1,900,000.  Merchandise inventory at the…

A: Merchandise inventory turnover ratio is calculated by dividing the cost of goods sold by the average…

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A: Requirement 1:   FIFO method:

Q: Winslow Department S

A: Inventory turnover ratio = Cost of goods sold / Average inventory Inventory turnover ratio =…

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A: Inventory valuation is a method of finding the actual cost of the goods left unsold at the end of a…

Q: A retailer has a beginning monthly inventory valued at $60,000 at retail and $25,000 at cost.  Net…

A: Total merchandise available for sales - at cost Beginning inventory + Net purchases + transportation…

Q: Tops N Bottoms Corporation reported sales for 2018 of $50 million. Tops N Bottoms listed $4 million…

A: INVENTORY TURNOVER RATIO Inventory Turnover Ratio is the Ratio between Cost of Goods Sold &…

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A: Sales = 24,000,000 Inventory = 5,700,000 Number of days of inventory

Q: Firth Company's annual report shows an average inventory balance of $45,000 and cost of goods of…

A: The ratio is the technique used by the prospective investor or an individual or strategist to read…

Q: Carrilion Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods…

A: Inventory turnover = Cost of goods sold/Average inventory

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A: Sales Revenue in the business is made up of cost of goods sold and gross profit.  Sales Revenue =…

Q: Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: niversal Sports Supply began the year with an inventory balance of $83,000 and a year-end balance of…

A: The inventory turnover ratio tells about the rate by which inventory is being used up or sold out.…

Q: Wayne's Wells has sales for the year of P48,900 and an average inventory 21 of P8,800. The cost of…

A: Days Sales Inventory = 365* Average Inventory/ Cost of goods sold

Q: Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is…

A: Average age of inventory = 25 days  Inventory level = P8,500

Q: A concrete corporation had cost of goods sold of $1,350,000 for the third quarter. The beginning…

A: Average Inventory = (Beginning Inventory + Ending Inventory) / 2 Inventory Turnover = Cost of goods…

Q: Determine the Inventory Turnover Ratio (ITR) and Days Sales Outstanding (DSO

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Q: Waters Department Store had net credit sales of $8,000,000 and cost of goods sold of $6,000,000 for…

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A: Inventory refers to the goods or items which are stored by the business either for selling or for…

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A: FIFO method is an inventory valuation method where inventory that was purchased first will be used…

Q: ending invento sales in inver

A: First of all, found the Inventory Turn Over Ratio ITOR = Cost of Goods Sold / Average Inventory  If…

Q: Suppose a company's cost of goods sold for years 2 and 3 were $283,310 and $299,390 respectively.…

A: Closing inventory is the inventory which is left and computed at the ending of an accounting period.…

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A: Information Provided: Sales = $480,000 Credits & allowances = $10,000 Units sold = 150,000 Per…

Q: Concert Company had beginning inventory for the year of $15,000. During the year, the company…

A: The cost that is directly associated with producing the items that a firm sells is known as the cost…

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A: Introduction: Inventory turnover is a financial indicator that examines the frequency with which a…

Q: ports Haven had net sales of $176,040 for the month of July.  The retail price of inventory at the…

A: Inventory Turnover Ratio makes a comparison between the inventory that is sold during a particular…

Q: The following information for Dorado Corporation relates to the three-month period ending September…

A: 1. Cost of goods sold (LIFO) = 400,000 units purchased at $24 each + 25,000 units from beginning…

Q: e Westmoreland Corporation uses a periodic system for its inventory. The company starts the current…

A: Cost is the expenses which have been incurred for production, marketing and selling a product, from…

Q: The company's inventory turnover ratio is _______.

A: Inventory turnover ratio is a financial ratio that measures the efficiency and effectiveness of a…

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A: The number of days' sales in inventory is calculated using the following equationThe inventory…

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A: Cost of Good Sold = $88,000 Cost of Inventory at the beginning = $44,600 Cost of Inventory at the…

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Q: 50.85 days 72.65 days

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A: Total cans purchased =Cans purchased on February 15 +Cans purchased on April 30 + Cans purchased…

Q: Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

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A: Gross Profit or Gross Margin Method is one of the methods of Calculating Closing Inventory. Under…