Sales $5,300 $5,900 Depreciation 750 850 COGS 2400 2900 Interest 180 196 Cash 200 500 Accts Receivables 200 400 Notes Payable 800 550 Long-term debt 1500 1950 Net fixed assets 3000 3500 Accounts Payable 250 400 Inventory 700 900 Dividend payout 30% 30% Tax rate 35% 30% What is the inventory period in 2021
Sales $5,300 $5,900 Depreciation 750 850 COGS 2400 2900 Interest 180 196 Cash 200 500 Accts Receivables 200 400 Notes Payable 800 550 Long-term debt 1500 1950 Net fixed assets 3000 3500 Accounts Payable 250 400 Inventory 700 900 Dividend payout 30% 30% Tax rate 35% 30% What is the inventory period in 2021
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 25P: LO.2 Oak Corporation has the following general business credit carryovers. If the general business...
Related questions
Question
2020 2021
Sales |
$5,300 |
$5,900 |
|
750 |
850 |
COGS |
2400 |
2900 |
Interest |
180 |
196 |
Cash |
200 |
500 |
Accts Receivables |
200 |
400 |
Notes Payable |
800 |
550 |
Long-term debt |
1500 |
1950 |
Net fixed assets |
3000 |
3500 |
Accounts Payable |
250 |
400 |
Inventory |
700 |
900 |
Dividend payout |
30% |
30% |
Tax rate |
35% |
30% |
What is the inventory period in 2021?
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
Inventory period = (Average inventory/ average cost of goods sold)*365
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning