Suppose that the following informationwas available for Carla Vista Company atDecember 31, 2025: beginning inventory $75000; ending inventory $106000; cost ofgoods sold $664000; and sales $1000000.Carla Vista's inventory turnover, rounded toone decimal place, in 2025 was 6.3 times.7.3 times. 11.0 times. 8.9 times. Attempts:0 of 2 used Suppose that the following information was available for Carla Vista Company at December 31, 2025: beginning inventory $75000;ending inventory $106000; cost of goods sold $664000; and sales $1000000. Carla Vista's inventory turnover, rounded to onedecimal place, in 2025 wasO 6.3 times.O 7.3 times.O 11.0 times.O 8.9 times.Save for LaterAttempts: 0 of 2 usedSubmit Answer

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Description: Suppose that the following informationwas available for Carla Vista Company atDecember 31, 2025: beginning inventory $75000; ending inventory $106000; cost ofgoods sold $664000; and sales $1000000.Carla Vista's inventory turnover, rounded toone deci

Inventory turnover ratio is calculated by dividing cost of goods sold by average inventory. Average…

Business

Accounting

Suppose that the following information was available for Carla Vista Company at December 31, 2025: beginning inventory $75000; ending inventory $106000; cost of goods sold $664000; and sales $1000000. Carla Vista's inventory turnover, rounded to one decimal place, in 2025 was O 6.3 times. O 7.3 times. O 11.0 times. O 8.9 times. Save for Later Attempts: 0 of 2 used Submit Answer

Suppose that the following information was available for Carla Vista Company at December 31, 2025: beginning inventory $75000; ending inventory $106000; cost of goods sold $664000; and sales $1000000. Carla Vista's inventory turnover, rounded to one decimal place, in 2025 was O 6.3 times. O 7.3 times. O 11.0 times. O 8.9 times. Save for Later Attempts: 0 of 2 used Submit Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2024, with an inventory of $165,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 Ending Inventory at Year-End Costs Cost Index (Relative to Base Year) 2024 $ 243,800 1.06 2025 324,500 1.18 2026 304,750 1.15 2027 299,700 1.11 Required: Calculate inventory amounts at the end of each year. (nearest whole dollars)
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (c) (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) Inventory turnover ratio Your answer is correct. Inventory turnover ratio 2020 Days in inventory $116,000 317,500 895,000 1,120,000 1,595,500 1,195,000 eTextbook and Medial Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) Gross profit rate 2020 2021 2020 $317,500 2020 410,500 Calculate the inventory turnover for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) 4.1 times 4.1 times 2020 2022 89 days $410,500 476,500 1,297,500 1,894,000 Calculate the days in inventory for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2.) 2021 % 2021 3.1 times. 2021 3.1 Calculate the gross profit rate for 2020, 2021, and 2022. (Round answers to 1 decimal places, e.g. 15.2 %) 2021 times 117 days 2022 2022 2022 2022 125 2.9 2.9 times times…
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