Inventory turnsProofSmart Inc., a supplier of home insulation materials, was burned down in a recent fire. From the remains of what used to be theaccounting ledger, the following information was recovered:InventoryGross MarginInventory TurnsMultiple Choice2011$2,36732116%13Prior to the fire, ProofSmart saw a sales growth of 15% in 2012, a record performance for the 18 year-old company.What was the sales for 2012?NOTE: Gross margin is defined as 1-(COGS /Sales).3077257336492036673698822012$2,418,25745%(unreadable)42106226

COGS is a actual cost of product to sold to consumer.

Answered: Inventory turns ProofSmart Inc., a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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K Kamal Fatehl production manager of Kennesaw Manufacturing, finds his profit at $30,800 (as shown in the statement below) inadequate for expanding his business. The bank is insisting on an improved profit picture prior to approval of a loan for some new equipment. Kamal would like to improve profit line to $40,800 so he can obtain the bank's approval for the loan. Sales Cost of supply chain purchases Other production costs Fixed costs Profit 280,000 182,000 39,200 28,000 30,800 % of sales 100% 65% 14% 10% 11% a) What percentage improvement is needed in a supply chain strategy for profit to improve to $40,800? What is the cost of material with a $40,800 profit? A decrease of 5.5% in supply-chain costs is required to yield a profit of $40,800, for a new cost of supply chain purchases of $172,000. (Enter your response for the percentage decrease to one decimal place and enter your response for the new supply chain cost as a whole number.) b) What percentage improvement is needed in a…
Subject: accounting
Q9
Last year, an online retailer of tennis equipment carried an average inventory of $7,500,000.The retailer reported sales revenue of $49,200,000 last year with a cost of goods sold of $23,900,000. Use this information to calculate the inventory turnover for the retailer last year. The inventory turnover for the retailer is ------- turns per year. (Enter your response rounded to two decimal places.)
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