Inventory Analysis A company reports the following: Cost of goods sold $468,660 Average inventory 78,110 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest. dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days
Inventory Analysis A company reports the following: Cost of goods sold $468,660 Average inventory 78,110 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest. dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 5PEB: Inventory analysis A company reports the following: Determine (a) the inventory turnover and (b) the...
Related questions
Question
dont give image based answers thank you
![Inventory Analysis
A company reports the following:
Cost of goods
sold
$468,660
Average inventory 78,110
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest
dollar and final answers to one decimal place. Assume 365 days a year.
a. Inventory turnover
b. Number of days' sales in
inventory
days](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb86175fd-cc2e-4451-ad47-359d87e52b2d%2F6837d62d-3386-4bd7-8e2b-4118dffb8c4a%2Fam8l3ff_processed.png&w=3840&q=75)
Transcribed Image Text:Inventory Analysis
A company reports the following:
Cost of goods
sold
$468,660
Average inventory 78,110
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest
dollar and final answers to one decimal place. Assume 365 days a year.
a. Inventory turnover
b. Number of days' sales in
inventory
days
![Current Position Analysis
The following items are reported on a company's balance sheet:
Cash
$268,600
Marketable
securities
Accounts
receivable (net)
Inventory
Accounts
payable
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
a. Current
ratio
209,900
b. Quick
ratio
215,000
146,000
365,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb86175fd-cc2e-4451-ad47-359d87e52b2d%2F6837d62d-3386-4bd7-8e2b-4118dffb8c4a%2F96qrgwk_processed.png&w=3840&q=75)
Transcribed Image Text:Current Position Analysis
The following items are reported on a company's balance sheet:
Cash
$268,600
Marketable
securities
Accounts
receivable (net)
Inventory
Accounts
payable
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
a. Current
ratio
209,900
b. Quick
ratio
215,000
146,000
365,000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning