Hi expert please given correct answer accounting Goods available for sale are $245,000; beginning inventory is$56,000; ending inventory is $63,000; and cost of goods sold is$182,000. The inventory turnover is:A. 3.05.B. 2.75.C. 3.25.D. 3.85.

Step 1: Definition of Inventory TurnoverInventory Turnover is a financial ratio that measures how…

Answered: Goods available for sale are $245,000;…

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.
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%
abc general accounting
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Inventory turnover? General accounting 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?
What is the amount of ending inventory?
16:52 itc.birzeit.edu XYZ Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost Beginning 100 1/1 entory $5 $ 500 20/2 Purchase 400 $6 2,400 25/7 Purchase 200 $7 1,400 10/10 Purchase 300 $9 2,700 1,000 $7,000
Based on the following data for the current year, what is the inventory turnover (rounded to one decimal place)? Sales on account during year $575,056 Cost of goods sold during year 202,401 Accounts receivable, beginning of year 47,751 Accounts receivable, end of year 51,613 Inventory, beginning of year 31,348 Inventory, end of year 44,744 a.15.1 b.4.3 c.5.3 d.20.4
Subject:- General Account.

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Goods available for sale are $245,000; beginning inventory is $56,000; ending inventory is $63,000; and cost of goods sold is $182,000. The inventory turnover is: A. 3.05. B. 2.75. C. 3.25. D. 3.85.