Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $463,358 Cost of merchandise sold during year 205,692 Accounts receivable, beginning of year 46,704 Accounts receivable, end of year 51,670 Merchandise inventory, beginning of year 33,192 Merchandise inventory, end of year 39,686 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.59 days b.65 days c.129 days d.70 days

Q: Solve for the missing information designated by "?" in the following table. (Use 365 days in a year.…

A: Cost of goods sold is the amount of money incurred by the entity on the making of the goods sold in…

Q: ales eginning inventories ost of goods sold nding inventories Current Year $934,400 43,572 467,200…

A: The inventory turnover measures how efficiently a company uses its inventory by dividing the cost of…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: A financial ratio called days sales in inventory (DSI) shows how long it typically takes for a…

Q: Carla Vista Company, which follows ASPE, uses the gross profit method to estimate inventory for…

A: Ending inventory is a portion of the inventory purchased remaining at the end of the accounting…

Q: Based on the following data for the current year, what is the inventory turnover? Sales on account…

A: Introduction: Inventory turnover is a financial ratio that indicates how frequently a company's…

Q: Question Content Area Based on the following data for the current year, what is the number of days'…

A: The objective of the question is to calculate the number of days' sales in receivables. This is a…

Q: Inventory turnover and number of days’ sales in inventory Financial statement data for years ending…

A: A . INVENTORY TURNOVER :   PARTICULARS 20Y7 20Y6 COST OF GOODS SOLD $3,731,760 $3,810,965…

Q: SCC Company reported the following for the current year: $ 56,000 47,560 2,800 8,800 Net sales Cost…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: Inventory Analysis A company reports the following: Cost of goods sold $256,230 Average inventory…

A: The inventory turnover ratio tells about the efficiency of the company to convert its inventory into…

Q: A company using the periodic inventory system has merchandise inventory costing $247 on hand at the…

A: Periodic inventory system: Periodic inventory system is a system, in which the inventory is updated…

Q: a. Compute the inventory tumover for each year using the formula Sales/Inventory. (Round your…

A: Inventory turnover ratio tells us how many times a company has sold and replenished inventory in a…

Q: Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for…

A: FIFO is first in first out inventory method under which inventories which are purchased first will…

Q: Weighted average cost method with perpetual inventory The beginning inventory at Midnight Supplies…

A: In the weighted average perpetual inventory system, purchases and sales are dealt with in…

Q: provide correct answer please

A: If gross profit percentage is 42.02%, then cost of sales percentage is 57.98% (100% - 42.02%)…

Q: Question Content Area Based on the following data for the current year, what is the inventory…

A: Inventory turnover is a financial ratio that measures how many times a company's inventory is sold…

Q: Current Year Preceding Year Sales $9,700,000   $7,175,000   Beginning inventories 420,000   400,000…

A: Inventory Turnover = Cost of goods soldAverage Inventory Days' Sales in Inventory = InventoryCost of…

Q: 1: Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending…

A: The cost of goods sold involves all costs involved in the production of goods that are sold.…

Q: Bold Interiors reported the following transactions in October 2020: A (Click on the icon to view the…

A: Calculation of cost of goods sold   Beginning inventory 450 Add purchase (1425 - 65 ) 1360 Add…

Q: Financial statement data for years ending December 31 for Salsa Company follow: 20Υ7 20Υ6 Cost of…

A: Inventory turnover = Cost of goods sold / Average inventory Days sales in Inventory = 365 /…

Q: Inventory Analysis A company reports the following: Cost of goods sold $381,425 Average inventory…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: Inventory turnover and number of days' sales in inventory Financial statement data for years ending…

A: INVENTORY TURNOVER RATIOThe inventory turnover is computed by dividing the cost of goods sold by the…

Q: Solve for the missing information designated by "?" in the following table. (Use 365 days in a year.…

A: Inventory turnover ratio measures how many times a company's inventory is sold and replaced within a…

Q: Question Content Area Based on the following data for the current year, what is the inventory…

A: The inventory turnover ratio can be calculated by dividing the cost of goods sold by the average…

Q: Inventory Analysis A company reports the following: Cost of goods sold Average inventory Determine…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold…

A: Average Merchandise inventory= (Beginning merchandise inventory + Ending merchandise…

Q: The following data were extracted from the income statement of Shriver Inc.: Current Year Sales…

A: Inventory turnover is the rate at which the inventory is either sold, held or replaced. In other…

Q: Inventory turnover and number of days’ sales in inventory Financial statement data for years ending…

A: Inventory turnover = Cost of merchandise soldAverage inventory   Given information:

Q: Based on the following information compute (a) inventory turnover, (b) average daily cost of…

A: Inventory turnover ratio refers to number of times inventory is sold or used in a given period.

Q: A company begins the year with inventory of $52,000 and ends the year with inventory of $42,000.…

A: Formula: Cost of goods available for sale = Beginning inventory + Purchases

Q: A company reports the following: Cost of goods sold $464,280 Average inventory 77,380 Determine (a)…

A: Inventory Turnover = Cost of goods sold / Average Inventory Number of days sales in Inventory =…

Q: Suppose the following: Beginning Inventory = 11257 Ending Inventory= 12407 Beginning Receivables =…

A: Beginning Inventory = 11,257Ending Inventory= 12,407Beginning Receivables = 6167Ending Receivables =…

Q: Solve for the missing information designated by "?" in the following table. (Use 365 days in a year.…

A: Ratio analysis helps to analyze the financial statements of the company. Management can take…

Q: Inventory Analysis A company reports the following: Cost of goods sold $800,445 Average inventory…

A: Introduction: Following formulas are used: Inventory turnover = Cost of goods sold / Average…

Q: Solve for the missing information designated by "?" in the following table. (Use 365 days in a year.…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: Inventory Analysis A company reports the following: Cost of merchandise sold $569,400 Average…

A: Solution a: Inventory turnover = Cost of merchandise sold / Average merchandise inventory = $569,400…

Q: Assume the perpetual inventory system is used unless stated otherwise. Round all numbers to the…

A: Prepare adjusting entry:

Q: Inventory turnover and number of days' sales in inventory Financial statement data for years ending…

A: Average Inventory       20Y7 20Y6 Beginning of year            737,000…