The cost of goods sold for a company for the year was $1,900,000.  Merchandise inventory at the beginning of the year was $125,000and merchandise inventory at the end of the year was $133,000.  The merchandise inventory turnover for the year was?

Q: 4. During the year ended 31 December, the business made sales of £45,000 and purchases of 25,000.…

A: Formula: Gross profit = Sales - cost of goods sold

Q: The Tampa Manufacturing Company had the following financial data for December 31, the end of the…

A: We have the following information: Cost of goods sold: $500,000 Beginning Merchandise Inventory:…

Q: During the current year, merchandise is sold for $95,500 cash and $1,315,000 on account. The cost of…

A: Gross margin (gross profit):Gross margin is the amount of revenue earned from goods sold over the…

Q: The company had beginning inventory of $1,500 and net purchases of $4,800. At the end of the year,…

A: The question is related to determination of goods available for sale for the year. It will be…

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: At the beginning of the year, Midtown Athletic had an inventory of P400,000. During the year, the…

A: Cost of goods sold is actual cost of goods that are being sold.  Cost of goods sold = Beginning…

Q: At the beginning of the year, Midtown Athletic had an inventory of P400,00o. During the year, the…

A: Cost of goods sold : Opening inventory + Purchases - closing inventory Therefore COGS :…

Q: Brill Company reported the following year-end amounts: Beginning Inventory $7,650 Net Cost of…

A: Formula: Ending Inventory = Beginning Inventory + Net purchases - Cost of goods sold

Q: Last year, Dogwood Company had net sales of $9,375,000 and cost of goods sold of $4,877,000. Dogwood…

A: Formula used: Inventory turnover ratio = Cost of goods sold / Average Inventory

Q: Carrilion Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods…

A: Inventory turnover = Cost of goods sold/Average inventory

Q: GREEN Enterprises reported the following information for the current year: Inventory, January 1 -…

A: solution given Inventory, January 1 - P2,300,000  Purchases - 27,105,000 Purchase returns and…

Q: At the beginning of the year, Bryers Incorporated reports inventory of $7,600. During the year, the…

A:

Q: A company begins the year with inventory of $52,000 and ends the year with inventory of $42,000.…

A: Formula: Cost of goods sold = Beginning inventory + Purchases - Ending inventory Deduction of ending…

Q: On December 32, Baxter inc has costs of goods sold of 360,000 ending inventory is 17,000 beginning…

A: Purchases = Cost of goods sold + Ending inventory - Beginning inventory = 360,000 + 17,000 - 20,000…

Q: Kingbird, Inc. had net credit sales of $9023000 and cost of goods sold of $5449000 for the year. The…

A: Average days in inventory depict the number of days for which a company holds its inventories before…

Q: At the beginning of the year, Bryers Incorporated reports inventory of $8,000. During the year, the…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The coset of…

A: Gross profit: Gross profit can be defined as the profit generated from deducting the cost of goods…

Q: During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost…

A: Revenue (Cash) = 366,100 Revenue (Credit) = 1,420,000 Total Revenue = Cash Revenue + Credit Revenue…

Q: Spree Company sold $769,300 of goods during the year at a cost of goods sold of $548,600. Inventory…

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

Q: During the current year merchandise is sold for $95,500 cash and $1,315,000 on account. The cost of…

A: Sales = Cash Sales + Credit Sales Sales = $95,500 + $1,315,000 Sales = $1,410,500

Q: The days' sale in inventory is 73. The cost of goods sold is 720,000. The net sales are 1,020,000,…

A:

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: During the current year, merchandise is sold for $54,400 cash and for $81,400 on account. The cost…

A: The difference between the net sales and cost of goods is called Gross profit. Total sales are…

Q: Endor Company begins the year with $140,000 of goods in inventory. At year-end, the amount in…

A:

Q: The days' sales in inventory is 73. The cost of goods sold is 720,000. The net sales are Php…

A: Inventory means goods held by a business which ultimate goal is to resale them.

Q: Russell Retail Group begins the year with inventory of $51,000 and ends the year with inventory of…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Days sales inventory It is  an estimation of the typical number of days or time expected for a…

Q: At the beginning of the year, Bryers Incorporated reports inventory of $7,400. During the year, the…

A: Cost of goods Sold = Beginning inventory + Net Purchases - Ending Inventory where, Net purchases =…

Q: Based on the following data for the current year, what is the inventory turnover? Net sales on…

A: Inventory turnover ratio is calculated as cost of goods sold divided by average inventory.

Q: Russell Retail Group begins the year with inventory of $55000 and ends the year with inventory of…

A: Formula: Cost of goods sold = Beginning inventory +Net purchases - Ending Inventory

Q: The cost of goods sold     was computed at P12,250. Total sales for the year were P42,950, of which…

A: Inventory Turnover: = Cost of Goods Sold ÷ Average Inventory = P12,250 ÷ P3,500 = 3.5 Times

Q: The following data are taken from the financial statements:   Current Year   Preceding Year Sales…

A: Inventory turnover = Cost of goods sold/Average inventory Days' sale in inventory = 365/Inventory…

Q: A company begins the year with inventory of $52,000 and ends the year with inventory of $42,000.…

A: Formula: Cost of goods available for sale = Beginning inventory + Purchases

Q: A company provided the following data: sales, $500,000; beginning inventory, $40,000; ending…

A:

Q: If a firm's beginning inventory is $35,000, goods purchased during the period cost $130,000, and the…

A: Cost of goods sold is calculated by adding the beginning inventory and purchases and deducting the…

Q: During the fiscal year 20x4, the initial inventory of the goods of company A is 15.000 €, purchases…

A: Cost of sales = Beginning inventory + Purchases - Closing inventory

Q: On January 1, The Parts Store had a $370,000 Inventory at cost. During the first quarter of the…

A: Gross Profit or Gross Margin Method is one of the methods of Calculating Closing Inventory. Under…

Q: A company uses a periodic inventory system.  The beginning inventory was $20,000, purchases amounted…

A: The cost of goods sold is the total amount your company paid as a cost directly related to the sale…

Q: During the current year, merchandise is sold for $50,940 cash and for $83,900 on account. The cost…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: A company began its fiscal year with inventory of $189,000. Purchases and cost of goods sold for the…

A: Given that: Beginning Inventory = $189000 Purchases = $949000 Cost of goods sold = $983200

Q: Russell Retail Group begins the year with inventory of $55,000 and ends the year with inventory of…

A: Calculation of total purchase: Particulars Amount Purchase on February 17 $210,000 Purchase…

Q: During the current year, merchandise is sold for $60,300 cash and for $87,600 on account. The cost…

A:

Q: During the current year, merchandise is sold for $54,900 cash and for $80,900 on account. The cost…

A: Gross profit refers to that part of the profit of the company that it makes after subtracting the…

Q: At the beginning of the year, Paradise Co. had an inventory of $200,000. During the year, the…

A: We have the following information: Opening Inventory: $200,000 Purchases: $900,000 Ending…

Q: Determining Gross Profit During the current year, merchandise is sold for $31,850,000. The cost of…

A: Meaning of Gross Profit Gross profit is refer as the profit of the company which is computed after…

Q: Russell Retail Group begins the year with inventory of $55,000 and ends the year with inventory of…

A: Here in this question, we are required to calculate the cost of goods sold. Cost of goods sold is a…

Q: The Red Sun Corporation has ending inventory of $250,000, and cost of goods sold for the year just…

A: The inventory turnover ratio is a financial ratio which is calculated using the amount of goods that…