The following information pertains to two competitors, Sage Hill Inc. and Oriole Ltd.CompanySage Hill Inc.Oriole Ltd.(b)(a)Sage Hill Inc. reported sales revenue of $1,850,000, and Oriole Ltd. reported sales revenue of $4,820,000.BeginningInventory$148,000Cost ofEndingInventory Goods Sold$222,000$646,000 $414,400(c1)Your answer is correct.Calculate the inventory turnover and days to sell inventory ratios for Sage Hill and Oriole. (Round answers to 1 decimal place, e.g.10.5. Use 365 days for calculation.)Inventory turnover ratioGross marginDays to sell inventory ratio(f)Your answer is correct.Gross margin ratioeTextbook and Media$Your answer is correct.Sage Hill Inc. VeTextbook and Mediana$1,335,700OCapital that can be freed up$1,914,022AndiaSage Hill Inc.$heANTONASage Hill Inc.Calculate the gross margin and gross margin ratio for Sage Hill and Oriole. (Round gross margin ratio to 1 decimal place, e.g. 10.5%.)moves its inventory faster.514300B27.8EMeS7.22times50.6 days%On the basis of inventory turnover, which company is moving its inventory faster?$LAOriole Ltd.Oriole Ltd.2905978thousand60.33.61101.1times%daysEstimate the capital that Sage Hill could free up if it were to reduce its days to sell inventory ratio by 5 days. (Round days ininventory to 2 decimal places. Enter amount in thousands rounded to 0 decimal places, e.g. 125.)Attempts: 1 of 3 usedAttempts: 2 of 3 used

The inventory turnover ratio is an efficiency ratio. It indicates whether the management can move…

The following information pertains to two competitors, Sage Hill Inc. and Oriole Ltd. Company Sage Hill Inc. Oriole Ltd. Beginning Cost of Ending Inventory Goods Sold Inventory $148,000 $222,000 $646,000 $414,400 (a) Sage Hill Inc. reported sales revenue of $1,850,000, and Oriole Ltd. reported sales revenue of $4,820,000. Your answer is correct. $1,335,700 $1,914,022 Calculate the inventory turnover and days to sell inventory ratios for Sage Hill and Oriole. (Round answers to 1 decimal place, eg 10.5. Use 365 days for calculation.) Inventory turnover ratio Days to sell inventory ratio Sage Hill Inc. 7.22 50.6 times days Oriole Ltd. 3.61 101.1 times days

The following information pertains to two competitors, Sage Hill Inc. and Oriole Ltd. Company Sage Hill Inc. Oriole Ltd. Beginning Cost of Ending Inventory Goods Sold Inventory $148,000 $222,000 $646,000 $414,400 (a) Sage Hill Inc. reported sales revenue of $1,850,000, and Oriole Ltd. reported sales revenue of $4,820,000. Your answer is correct. $1,335,700 $1,914,022 Calculate the inventory turnover and days to sell inventory ratios for Sage Hill and Oriole. (Round answers to 1 decimal place, eg 10.5. Use 365 days for calculation.) Inventory turnover ratio Days to sell inventory ratio Sage Hill Inc. 7.22 50.6 times days Oriole Ltd. 3.61 101.1 times days

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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In Year 1 and Year 2, Basilisk Manufacturing reported its gross margin as follows: Basilisk Manufacturing Partial Income Statement Year 1 Year 2 Sales $6,720,000 $7,340,000 Cost of goods sold 3,001,600 3,538,400 Gross margin 3,718,400 3,801,600 In Year 3, Basilisk Manufacturing changed its inventory valuation method. If the new inventory method had been used in Year 1 and Year 2, cost of goods sold would have been less by $100,000 in Year 1 and by $140,000 in Year 2. In the Year 3 financial statements, what should be reported for the Year 2 gross margin? Select one: O O O O a. $4,161,600 b. $3,801,600 (There would be no difference in the amount reported since the inventory valuation method wasn't changed until Year 3.) c. $3,661,600 d. $3,941,600 e. $3,561,600
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Sunland company provided the following information of its two products: Product A Product B Cost $20 $90 Replacement cost $18 $85 Selling price $40 $120 Selling costs $6 $40 Normal profit margin $5 $30 1 12 Suppose company's ending inventory contains 1,500 units of both the products. Computethe carrying value of the company's inventory using LCM rule applied to individual products. 12
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I have answer for a and b Solve c
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AB Ltd. has MCC has prepared the Income statement including the following data (all sales are on account): Sales $80,000 Cost of Goods Sold Gross Profit Expenses Net Profit $50,000 $ 25,000 $ 10,000 $15,000 The comparative balance sheet shows the following data (by definition, accounts payable relates to merchandise purchases only): End of Year Beginning of Year Accounts Receivables (net) Inventory Prepaid Expenses Accounts Payable $7,000 $3,000 $2,000 $1,140 $5,280 $2,000 $1,000 $1,500 Required 1: What is the amount of Cash received from Customers? $ Required 2: What is the amount of Cash paid for merchandise purchase? $
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Selected data for three companies are given below. All inventory amounts are ending balances. Description Amount Subcategory, Accounts Receivable 16,100 Administrative Expenses 15,300 Cash 26,500 Cost of Goods Sold 46,500 Equipment 53,000 Merchandise Inventory 7,300 Sales Revenue 92,000 Sellilng Expenses 20,500 Description Amount Subcategory, Accounts Receivable 10,800 Cash 7,800 Equipment 47,400 Rent Expense 5,200 Service Revenue 34,100 Utilities Expense 2,200 Wages Expense 10,500 Description Amount Subcategory, Accounts Receivable 25,400 Administrative Expenses 42,900 Cash 27,700 Cost of Goods Manufactured 112,900 Cost of Goods Sold 98,000 Equipment 259,000 Finished Goods Invetory 10,800 Raw Materials Inventory 8,800 Sales Revenue 223,900 Selling Expenses 49,500 Work-in-Process Inventory 5,200 Using the data above, indentify each company as a Service Company, Merchandising Company, or…