"On average, a firm sells $2,500,000 in merchandise a month. Its cost of goods sold equals 80 percent of sales, and it keeps inventory equal to one-half of its monthly cost of goods on hand at all times. If the firm analyzes its accounts using a 360-day year, what is the firm's inventory conversion period?" Group of answer choices a. 360 days b. 180 days c. 30 days d. 15 days e. 10 days

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A: C&A's weekly inventory turns = (No. of days x daily sales ) / Average inventory

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A: The correct answer is Option (B).

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A: Given,  Current year net sales = $802,213 Prior year net sales = $453.350

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A: The average inventory amount can be found by using the inventory turnover ratio where the cost of…

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A: The inventory turnover ratio is calculated as cost of goods sold divided by average inventory.

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A: Inventory turnover = Annual salesAverage inventory

Q: A. What is the monthly inventory turnover ratio for each of the twelve months for 2013? Round your…

A:

Q: Use the following information to determine the Prior Year and Current Year trend percents for net…

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Q: Considering this example as a retail company $23.22 Billion Net Revenue Costs of Goods Sold $29.38…

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A: Operating cycle = DIO+DSOwhereDIO = days inventory outstandingDSO = days sales outstanding

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Q: a. EFG reports annual sales of $ 30 million. Annual costs of goods sold is $ 15 million. Inventory…

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

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A: The inventory turnover ratio means how many times a company needs to replenish the average inventory…

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A: SOLUTION- 1                                                      INVENTORY TURNOVER RATIO FORMULA=…

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