Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is P8,500, then what does that imply for the cost of goods sold during the year? (round to the nearest peso)

Q: Use the following information relating to Clover Company to calculate (a) the inventory turnover…

A: The ratio is calculated to determine the relationship between 2 numbers. In accounting, Ratios are…

Q: Assume a firm's inventory level of $11,000 represents 32 days' sales. Required: a. What is the…

A: The inventory turnover ratio indicates how many times the inventory was sold. It also indicates the…

Q: Net sales are $80,000, cost of goods sold is $30,000, net income is $35,000, inventory is $15,000 at…

A: Inventory turnover ratio computes the number of days the company will take to sell the inventory in…

Q: Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is…

A: Average age of the inventory is described as the number of days the company requires to sell the…

Q: Assuming that net purchases was P900,000 during the year and that ending merchandise inventory was…

A: Ending inventory = beginning inventory - decrease in inventory = P250000 - P20000 = P230,000

Q: Assume a firm's inventory level of $11,500 represents 33 days of sales.  What is the annual cost of…

A: Inventory days is the days which represents Average Inventory taken time to convert it into Sales.…

Q: A recent annual report of Gateway $2000 , Inc. , shows : cost of goods sold. $4,072; inventory at…

A: Operating cycle is the number of days required to receive Inventory, sale of Inventory and…

Q: inventory

A: Introduction: Ending inventory for a company generally indicates the balance goods which are…

Q: A company had an average inventory last year of $180,000 and its inventory turnover was 5. If sales…

A: Inventory Turnover Ratio: Inventory turnover refers to the pace at which inventory stock is sold,…

Q: The cost of goods sold for Veltron International last year amounted to $561,000, and the average…

A: Inventory turnover ratio at cost = Cost of goods sold / Average inventory at cost In any business a…

Q: What is the inventory period for a firm with an annual cost of goods sold of P5 million, P1.2…

A: The inventory turnover ratio is a financial ratio that defines the number of times within which…

Q: Bobaflex Corporation has ending inventory of $527,156 and cost of goods sold for the year just ended…

A: Given information: Cost of goods sold for the year is $8,543,132 Ending inventory is amounted to…

Q: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: The question is related to Ratio Analysis. Inventory turnover is calculated with the help of…

Q: Wayne's Wells has sales for the year of P48,900 and an average inventory 21 of P8,800. The cost of…

A: Days Sales Inventory = 365* Average Inventory/ Cost of goods sold

Q: Zane Corporation has an inventory conversion period of 64 days,an average collection period of 28…

A:

Q: On January 1, Veltron International has inventory worth $599,900 at cost. At the end of the year,…

A: Inventory turnover is the number of times inventory is sold and replaced during the year. It…

Q: Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is…

A: Inventory days is a concept in costing that shows how much time it takes the firm to sale its…

Q: A company reports the following: Cost of goods sold $585,825 Average inventory 78,110…

A: Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Q: uring the current year, Peach Industries' reports sales of $184,000 and an average Odays. The…

A: Introduction:- The following formula used to calculate gross margin percentage as follows:- Gross…

Q: Elephant, Inc.'s cost of goods sold for the year is $1,900,000, and the average merchandise…

A: The question is related to Ratio Analysis. The details are  Average Inventory = $ 132000 Cost of…

Q: The Zone, Inc. has an ROE of 0.10, no debt, and a Total Asset Turnover of 2.8x. What is the Zone's…

A: Net profit margin is a measure of the profitability of a company. Days' Sales in Inventory is the…

Q: If a firms inventory level of $10,000 represents 30 days sales, what is the annual cost od goods…

A: The computation of annual cost of goods sold: Hence, annual cost of goods sold is $121666.67

Q: 50.85 days 72.65 days

A: Inventory is an excess amount to be maintained by companies to satisfy the needs of customers and…

Q: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: Inventory turnover refers to the rate at which the inventory in the company is sold, used, and…

Q: Calculate the inventory period of Havells Ltd with an annual cost of goods sold of $8 million, $1.5…

A: Days in Inventory outstanding is used to determine the conversion of inventory in the cash cycle and…

Q: National Co. has P5 million in inventory and P2 million in accounts receivable. Its average daily…

A: Inventory conversion period = Inventory/Average daily cost of goods sold   Note :- In case cost of…

Q: On average, a firm sells $2,000,000 in merchandise a month. It keeps inventory equal to one-half of…

A: Solution:- Inventory Conversion Period (ICP) refers to the days or time it takes for a firm to…

Q: The King Corporation has ending inventory of $386,735, and cost of goods sold for the year just…

A: Calculate the inventory turnover as follows:

Q: BL Industries has ending inventory of $201,700, annual sales of $1.24 million, and annual cost of…

A: Ending inventory = $201,700Sales = $1.24 million = $1,240,000Cost of goods sold = $1.04 million =…

Q: Himantayon Company provided the following information for the current year: Beginning inventory…

A: Gross purchase is the sum of the net purchase and purchase return. The net purchase can be…

Q: Use the following information relating to Clover Company to calculate (a) the inventory turnover…

A: Gross margin is the amount which can be determined by deducting the cost of goods sold from the…

Q: Tefft Industires has an average inventory of $170,000, sells on term of 2/10, net 30, and its cost…

A: Inventory conversion period is the number of days in which the inventory is stored before being sold

Q: Arrow Distributing Corp. likes to track inventory by using weeks of supply as well as by inventory…

A: Inventory turnover is a financial ratio showing how many times a company turned over its inventory…

Q: find the inventory turnover at cost.

A: Inventory turnover calculates the number of times inventory can be converted into sales by company.…