SWEET TOOTH Company provided the following information for the current year: Increase in raw materials inventory Decrease in goods in process inventory Decrease in finished goods inventory Raw materials purchased Direct labor payroll Factory overhead Freight out Freight in 150,000 200,000 350,000 4,300,000 2,000,000 3,000,000 450,000 250,000

Q: How is Day Sales in Inventory calculated?

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

Q: How are days’ sales in inventory calculated, and what does it measure?

A: Numbers of days to sell inventory: This ratio is determined as the number of days a particular…

Q: What is the formula used to determine the amount of merchandise inventory to be purchased?

A: To calculate amount of merchandise inventory to be purchased, we need opening inventory amount,…

Q: Determine the gross profit from sales for the period.

A: Revenue:   It refers to the earnings of an organization form business operations for a particular…

Q: ost per unit of purchases over a period r decrease in purchases in relation to the

A: Data is unprocessed facts or figures that are not organzied.Information is processed and organized…

Q: ) What was Bellcamp's total sales, cost of goods sold, gross profit, and gross profit margin for…

A: Many Companies have different division , products, regions have Sales and then when its consolidated…

Q: In the Perpetual/Periodic Inventory System what are the merchandise inventory and Income summary?…

A: Perpetual inventory: Under perpetual inventory system each transaction for purchase of inventory,…

Q: Sales Cost of goods sold Accounts receivable 2021 $ 611,353 302,063 29,467 2020 $ 399,577 197,543…

A: Introduction: Trend analysis is a tool used by the management to evaluate performance of the company…

Q: What is inventory turnover ratio?

A: Inventory:   It can be described as a good or material that a company holds for the purpose of…

Q: How would I go about finding the previous reported sales, when I have the current sales and the…

A: Given: Current Sales Percentage increase in Sales

Q: What does the days’ sales in receivables indicate, and how is it calculated?

A: Day's Sales: Day's sales refer to the average number of days for which a receivable remain…

Q: How do you calculate inventory turnover ratio

A: Inventory turnover ratio indicates how fast a firm converting its inventory into the cost of goods…

Q: Calculate Sandhill's net sales, cost of goods sold, and gross profit for these sales. Net sales Cost…

A: Gross Profit = Sales - Cost of Goods SoldGross Profit is derived by deducting cost of goods sold…

Q: Define each of the following terms:e. Inventory conversion period; average collection period;…

A: Inventory conversion period The time between the day when the materials are purchased and the day…

Q: What does the cost of merchandise inventory includes?

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: The cost of inventory sold during the current year is clansified as atri in the O Liability, Balance…

A: The Inventory sold will create an income for the for the firm. Whereas, the cost of goods that are…

Q: What's the difference between the cost to inventory and the cost of goods sold?

A: Cost of inventory refers to the cost of goods purchased. It is those costs which includes cost of…

Q: What is Inventory turnover rate?

A: Ratio analysis: It refers to the quantitative technique of financial analysis that allows gaining an…

Q: What is the proper accounting for volume discounts onsales of products?

A: Volume discounts: It is an incentive to encourage for an increase in business. The seller issue…

Q: When preparing interim financial statements, what two methods can companies utilize to estimate cost…

A:

Q: What are the purposes of the period-end adjustment under the periodic inventory system?

A: Periodic inventory system:   The method or system of recording the transactions related to…

Q: What is the formula for calculating sales tax? A. Amount of Purchase x Sales Tax Rate = Sales Tax B.…

A: Sales tax : Sales tax is the amount that the merchant must charge to customers who purchase the…

Q: Define days' sales in inventory (what do the results mean). Provide an example

A: Days sales in inventory means how much days company will take to convert its inventory into sales.…

Q: factors affect inventory turnover ratio

A: The inventory turnover ratio is a financial ratio. It is the rate at which a company is managing its…

Q: If a company understates its inventory, what are the effects on cost of goods sold and net income…

A: The cost of goods sold is calculated as difference between cost of goods available for sale and…

Q: What is Return on Assets? How do you calculate Inventory Turnover and The Number of Days' Sales in…

A: P

Q: Define average days in inventory.

A: Definition: Inventory turnover: This is the ratio that analyzes the number of times inventory is…

Q: How is the net cost of inventory calculated?

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: Sales Cost of goods sold Accounts receivable 2021 $ 712,778 351,711 34,570 2020 $ 465,868 229,975…

A: Trend analysis is an accounting technique. Which is used for making future predictions based on…

Q: A bank that is examining the ratio of annual costs of goods sold to average inventory, is examining…

A: Financial ratios: Financial ratios are performance measurement methods used by company to Measure…