Use the following information regarding Whispering Winds Corp. and Concord Corporation to answer the question "Which amount is equal to Whispering Winds Corp's "days in inventory" for 2022 (to the closest decimal place)?" (Use 365 days for calculation.) Year Inventory Turnover Ending Inventory Whispering Winds Corp. 2020 $26700 2021 7.0 $29400 2022 6.7 $30400 Concord Corporation 2020 $25940 2021 5.6 $24830 2022 6.0 $22610 O 60.8 days O 54.5 days O 65.2 days O 52.1 days

Use the following information regarding Whispering Winds Corp. and Concord Corporation to answer the question "Which amount is equal to Whispering Winds Corp's "days in inventory" for 2022 (to the closest decimal place)?" (Use 365 days for calculation.) Year Inventory Turnover Ending Inventory Whispering Winds Corp. 2020 $26700 2021 7.0 $29400 2022 6.7 $30400 Concord Corporation 2020 $25940 2021 5.6 $24830 2022 6.0 $22610 O 60.8 days O 54.5 days O 65.2 days O 52.1 days

Name: Current Attempt in ProgressUse the following information regarding Wh
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Current Attempt in ProgressUse the following information regarding Whispering Winds Corp. and Concord Corporation toanswer the question "Which amount is equal to Whispering Winds Corp.'s "days in inventory"for 2022 (to the closest decimal place)?" (

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $490,000. Inventory data for 2024 through 2026 are as follows: Date 12/31/2024 12/31/2025 12/31/2026 Date Required: Calculate the company's ending inventory for 2024, 2025, and 2026. 01/01/2024 12/31/2024 12/31/2025 Ending Inventory at Year-End Costs $ 540,600 598,500 638,600 12/31/2026 Inventory Layers Converted to Base Year Cost Inventory at Year-End Cost Cost Index 1.06 1.14 1.24 Year-End Cost Index 1.00 1.06 1.14 1.24 = = = || = Inventory Layers at Base Year Cost Base Base 2024 Base 2024 2025 Base 2024 2025 2026 Inventory Layers Converted to Cost Inventory Layers at Base Year Cost Year-End Cost Index = II = = II Inventory Layers Converted to Cost Inventory DVL Cost $ $ $ $ 0 0 0 0
Required:In accordance with IAS 2 Inventories, at what amount should inventory be stated in the financial statements of Kpogo Ltd as at 31 December 2019?
Early in 2022, A company switched to a just in time inventory system. its sales and inventory amounts for 2021 and 2022 are shown below. 2021 2022 Sales Revenue. 3220000 3840000 Cost of Goods sold 1406250 1728000 Begining inventory. 150000 225000 Ending inventory 225000 95000 Determine the inventory turnover for 2021 and 2022
Subject: accounting
Manji
Please do not give solution in image format ?
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1,100,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: What is the cost of ending inventory at December 31, 2020 under dollar-value LIFO? Date Inventory at current price Current price ind. Dec, 31, 2020 $1,284,000 107 Dec, 31, 2021 $1,450,000 125 Dec, 31, 2022 $1,625,000 130
Company C had cost of goods sold in the year of sale 2019 of $1,500,000 and net sales was $1,540,000. The inventory at the end of 2029 was $376,000 and at the beg of 2019 the inventory was $416,000. Company C's inventory turnover during 2019 was closest to: A. 3.99 B. 3.89 C. 3.84 D. 3.79
The inventory of Coronado Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizable Value 110 620 $117.00 $123.00 111 920 73.80 64.00 112 530 98.40 93.00 113 190 209.10 221.40 120 370 252.00 256.00 121 a 1,700 20.00 1.00 122 330 295.20 289.00 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.(a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2020 $enter the Inventory as of December 31 in dollars (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2020 $enter the Inventory as of December 31 in dollars
Current Attempt in Progress The following information relates to the Edward Lewis Company. Ending Inventory (End-of-Year Prices) Price Date Index December 31, 2016 $ 69,100 100 December 31, 2017 116,874 129 December 31, 2018 126,841 143 December 31, 2019 142,376 148 December 31, 2020 131,670 154 Use the dollar-value LIFO method to compute the ending inventory for Lewis Company for 2016 through 2020. Ending Inventory 2016 $4 2017 2$ 2018 2019 2020 %24 eTextbook and Media %24
Hi, How do I calculate the correct amounts for this question?
What is the correct answer? A. P129,000 B. P135,000 C. P112,000 D. P127,600