theEffortless Beauty management has disclosed that the company holds current assets totalling R1 405 000, with a current ratio of 2,7. The cost of goods sold forcompany is reported as R3 580 000, and it maintains a quick ratio of 1,0. What is the company's inventory turnover? 1. 0, 25 times 2. 1,09 times 3. 4,05 times 4.6,70times

The objective of the question is to calculate the inventory turnover of the company. Inventory…

Answered: the Effortless Beauty management has…

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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the Effortless Beauty management has disclosed that the company holds current assets totalling R1 405 000, with a current ratio of 2,7. The cost of goods sold for company is reported as R3 580 000, and it maintains a quick ratio of 1,0. What is the company's inventory turnover? 1. 0, 25 times 2. 1,09 times 3. 4,05 times 4.6,70 times
The following information is available for the McCartney Corporation: Sales $750,000Costs of goods sold $450,000Gross Profit $300,000Operating income $85,000Net income $42,000Inventory, beginning-year $71,200Inventory, end of year $48,800Calculate the company's inventory turnover and its days' sales in inventory.
Answer each of the questions In the following unrelated situations. (@) The curTent ratio of a company Is 6:1 and Its acid-test ratio is 1:1. If the Inventories and prepald items amount to $523,000, what Is the amount of current llabillitles? Current Llabilities (b) A company had an aVerage Inventory last year of $210,000 and Its Inventory tumover Was 5. If sales volume and unit cost remaln the samne this year as last and Inventory turnover Is 8 this year, what will average Inventory have to be during the current year? (Nound answer do 0 decimal places, e.g.125. Average Inventory (c) A company has current assets of S95,000 (of which $38,000 15 Inventory and prepaid tems) and current llabilities of $38,000, What Is the Current ratlo? What Is the aeid-test rabo? IF the company borows $13,000 cash from a bank on a 120-day loan, what will its current ratlo be? What will the add-test ratio bez (Round answers to 2 decimalplaces, c.0. 2.50.) Current Ratlo Add Test Ratio New Current Ratio New…
Please help me with show all calculation thanku
Presented below are selected data from the financial statements of Harper Company for the last tHP Yr3 Yr2 Yr1 Total assets $1,205,000 $952,000 $945,000 Cost of goods sold 360,000 420,000 440,000 Inventory 56,000 64,000 53,000 Net income 65,000 25,000 16,000 Required: A. Calculate Harper's inventory turnover ratio for years 2 and 3. Round your answers to one decimal place. Year 3 times Year 2 times B. Calculate the number of days in inventory at December 31, year 3 and year 2. Assume 365 days in a year. Round your answers to one decimal place. Year 3 days Year 2 days
A company had net sales of $346,000. The beginning inventory at retail was $130,000 and the ending inventory was $159,000. Find the turnover rate at retail.
Vo Manufacturing is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2017 2018 Net Sales Revenue $ 4, 200 $ 3,660 Cost of Goods Sold 3,470 2,950 Average Inventory 430 370 Required: 1-a. Calculate the inventory turnover ratio for 2018 and 2017. 1-b. Calculate the average days to sell inventory for 2018 and 2017. 2. Did inventory turnover at Vo improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Vo is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.9 and its gross profit percentage was 4.5 percent. Why was Arctic Cat more likely than Vo to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req 3 Req 4 Calculate the inventory turnover ratio for 2018 and 2017. (Round your answers to 1 decimal place.) Times per Year 2018 2017…
Hull Company reported the following income statement information for the current year: Sales $429,000 Cost of goods sold: $160,500 Beginning inventory Cost of goods purchased 292,000 Cost of goods available for sale Ending inventory 452,500 163,000 Cost of goods sold 289,500 Gross profit $139,500 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $39,000. Given this information, the correct gross profit would be: Multiple Choice $100,500. $139,500. $178,500. $113,500.
Cost of goods sold for Califant Industries was $949,420 for the year. If the beginning inventory at cost was $609,700 and the ending inventory at cost was $416,200, find the inventory turnover at cost. (Round your answer to the nearest tenth.) a. 1.9 times b. 2.0 times c. 2.4 times d. 3.2 times
Earnings per share: O a. will decrease if net income decreases and the number of treasury shares increases. O b. will decrease if net income decreases and the number of shares outstanding increases. c. is the total amount of dividends paid per year on a per share basis. o d. will increase if net income increases and the number of shares outstanding increases. O e. is defined as the addition to retained earnings divided by the number of shares outstanding.
Vijay

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