Tater and Pepper Corp. reported COGS for 2021 of $35 million. Tater and Pepper listed $6.8 million of inventory on its balance sheet.   How many days did Tater and Pepper’s inventory stay on the premises? (Use 365 days a year. Round your answer to 2 decimal places.)       How many times per year did Tater and Pepper’s inventory turn over? (Round your answer to 2 decimal places.)

Q: The company has a 10% interest bearing, promissory note of 50,000, payable after 5 years. Sales…

A: The financial leverage is the ratio that helps in measuring the dependency of the entity on debt…

Q: The following transactions occurred during March 2024 for the Right Corporation. The company…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Torrid Romance Publishers has total receivables of $2,300.00, which represents 24.00 days’ sales.…

A: Total receivable = $2300.00 Average receivable period = 24 days Turnover = 2300/(365/24) =…

Q: What is the acid-test ratio?

A: Acid test ratio is a financial ratio that helps an entity to assess if it is able to meet its…

Q: Oriole Technology's operating cycle is 90 days. Its inventory was $142,000 at the end of last year,…

A: OPERATING CYCLE = 90 DAYS CLOSING INVENTORY  = $142,000 COST OF GOODS SOLD =  $1.1 MILLION  To…

Q: Tater and Pepper Corp. reported COGS for 2021 of $27 million. Tater and Pepper listed $6.0 million…

A: Inventory turnover is the amount of time that passes between the day a company buys an item and the…

Q: Kelly's Jewelry has the following transactions during the year: total jewelry sales = $740,000;…

A: Net sales are the sum of a company's gross sales minus its returns, allowances, and discounts.

Q: Mr. Husker’s Tuxedos Corporation ended the year with an average collection period of 36 days. The…

A: As per Bartleby honor code, when multiple questions are asked, the expert is required only to solve…

Q: Maelstrom limited sells only on credit. They started business in June 2021. The sales are collected…

A: A financial plan that managers use to estimate revenues and expenses for a particular period of time…

Q: Myint's Merchandise Co., a retailer of everyday kitchen supplies, buys $4.5 million of goods from…

A: Nominal cost of trade credit  =[ Discount/(100- Discount)] × [365 days/(Days credit outstanding -…

Q: The following transactions apply to Ozark Sales for 2018:   The business was started when the…

A: In terms of accountancy, liabilities can be defined as the obligations which the company is required…

Q: Aggarwal Inc. buys on terms of 2/15, net 45, and it always pays on the 45th day. The CFO calculates…

A: We know that:The average amount of costly trade credit carried by the firm is $275,000.The firm pays…

Q: Libscomb Technologies' annual sales are $6,615,140 and all sales are made on credit, it purchases…

A: The question is based on the concept of financial ratios

Q: can uou help wit the worksheet in the picture wit the given information The fiscal period is one…

A: (a) Equipment Value as on Nov. 1 - (1) Book Value = $ 50,000 (2) Less : Acc. Depn = $ 21,600 (3)…

Q: Requirement 1. Fill in the missing information for Utah's year ended July 31, 2024, income…

A: The income statement is one of the financial statements of the business. It records the revenue and…

Q: Tater and Pepper Corp. reported COGS for 2021 of $33 million. Tater and Pepper listed $6.6 million…

A: Given: Particulars Amount   Cost of goods sold $33.00 Millions Inventory $6.60 Millions…

Q: Jerry Rice and Grain Stores has $4,780,000 in yearly sales. The firm earns 4.5 percent on each…

A: Given, Sales $4,780,000 Net profit margin is 4.5%

Q: Robinson's, an electrical supply company, sold $6,800 of equipment to Jim Coates Wiring, Inc. Coates…

A: Promissory note means the note written where the promise is made to pay certain sum of money to…

Q: Festivus Company has working capital of $140,680 on December 30. On December 31 it has the following…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: PHE, Inc.estimates warranty expense at 2% of sales. Sales during the year were $4 million and…

A: Balance of warranty expense = Estimated warranty liability - Cash expenditure

Q: Libscomb Technologies' annual sales are $5,024,963 and all sales are made on credit, it purchases…

A: Cash cycle = Days inventory outstanding + days sales outstanding - days payable outstanding Days…

Q: Libscomb Technologies' annual sales are $6,750,624 and all sales are made on credit, it purchases…

A: Receivables Period = 365 / Receivables turnover

Q: ROTAVAIT 2. January 1-You have a beginning balance in inventory of $100,000 (10 items). During the…

A: Introduction: In Every type of Accounts the left side of T Account is the debit side and the right…

Q: PHE, Inc.estimates warranty expense at 2% of sales. Sales during the year were $4 million and…

A: A warranty liability is a liability account in which a company records the amount of the repair or…

Q: Ankaran Enterprises currently has $800 in cash, and total assets of $20,400. The company owes $1,400…

A: Current assets refers to the assets that are expected to be used or sell within 12 months from the…