abc general accounting Goods available for sale are $118,000; beginninginventory is $37,000; ending inventory is $42,000; andcost of goods sold is $77,000. The inventory turnover is:A. 1.53.B. 1.95.C. 1.83.D. 2.99.

Step 1: Definition of Inventory TurnoverInventory turnover is an efficiency ratio that measures how…

Answered: Goods available for sale are $118,000;…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of goods sold on October 29, and (c) the inventory on October 31.
Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of the merchandise sold on October 29, and (c) the inventory on October 31.
Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Kulsrud Company would like to estimate the current inventory level. Using the gross profit method and the following information, estimate the current inventory level for Kulsrud Company. Goods available for sale 100,000 Net sales 150,000 Normal gross profit as a percent of sales 40%
Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
Compare the calculations for gross margin for B76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG.
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Inventory turnover? General accounting question
Given the following information, how much is the Inventory, beginning? Inventory end. P162,000 Net purchases, P216,000 Cost of goods sold, P144,000.
Goods available for sale are $118,000; beginning inventory is $37,000; ending inventory is $42,000; and cost of goods sold is $77,000. The inventory turnover is_____.answer this question
Beginning inventory 74,000. Cost of goods purchased 530, 900. Cost of goods available for sale 604,900. Ending inventory 72,000. Cost of goods sold 532,900. What is the inventory turnover?
If beginning inventory is $1,998, ending inventory is $1,407 and cost of goods sold is $11,158, how much is purchases?

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Goods available for sale are $118,000; beginning inventory is $37,000; ending inventory is $42,000; and cost of goods sold is $77,000. The inventory turnover is: A. 1.53. B. 1.95. C. 1.83. D. 2.99.