Give me answer Reddy Industries has:Ending inventoryAnnual sales$302,800$2.33 millionAnnual cost of goods $14,100,000soldOn average, how long did a unit of inventory sit on theshelf before it was sold?

Step 1: DefinitionsInventory Turnover Ratio - This ratio measures how many times a company sells and…

Answered: Reddy Industries has: Ending inventory…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2TP: Assume your company uses the periodic inventory costing method, and the inventory count left out an...

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Similar questions

Assume your company uses the periodic inventory costing method, and the inventory count left out an entire warehouse of goods that were in stock at the end of the year, with a cost value of $222,000. How will this affect your net income in the current year? How will it affect next years net income?
Dollar-Value LIFO A company adopted the LIFO method when its inventory was 1,800. One year later its ending inventory was 2,100, and costs had increased 5% during the year. Required: What is the ending inventory using dollar-value LIFO? Round to the nearest dollar.
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?
How long?
Question: Reddy Industries has: Ending inventory Annual sales $302,800 $2.33 million Annual cost of goods sold $14,100,000 On average, how long did a unit of inventory sit on the shelf before it was sold?
A7X corporation has ending inventory of $705273 and cost of goods sold for the year just ended was $8,135,165 a. What is the inventory turnover? Inventory turnover _______ times b. What is the days sales in inventory Days sales in inventory______ days c. How long on average did a unit of inventory sit on the shelf before it was sold? Days on shelf______ days
PROBLE The Cape Corporation has ending inventory of $483,167, and cost of goods sold for the year just ended was $4,285,131. a) What is the inventory turnover? (! b) The days' sales in inventory? (. c) How long on average did a unit of inventory sit on the shelf before it was sold? (s 2
Calculating inventory turnover A7X corporation has ending inventory of $625,817, the cost of goods sold for the year just ended was $9,758,345. What is the inventory turnover? The days sales in inventory? How long, on average, did a unit of inventory sit on the shelf before it was sold?
None
Use the following information: Net sales Cost of goods sold $235,000 168,000 52,000 42,000 Beginning inventory Ending inventory a. Calculate the inventory turnover ratio. b. Calculate the average days in inventory. c. Calculate the gross profit ratio.
A company has an average inventory on hand of $81000 and its average days in inventory is 36 days. What is the cost of goods sold? $821250 O $1892160 O $1895400 $946080

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Reddy Industries has: Ending inventory Annual sales $302,800 $2.33 million Annual cost of goods $14,100,000 sold On average, how long did a unit of inventory sit on the shelf before it was sold?