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)?" (

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 15P: (Appendix 8.1) Inventory Write-Down The following are the inventories for the years 2019, 2020, and...

See similar textbooks

Similar questions

Use the following information regarding Skysong, Inc. and Kingbird, Inc. to answer the question “Which amount is equal to Skysong, Inc.'s "days in inventory" for 2022 (to the closest decimal place)?” (Use 365 days for calculation.) * Year Inventory Turnover Ending Inventory Skysong, Inc. 2020 * $26800 * 2021 10.6 $31400 * 2022 10.2 $32400 * Kingbird, Inc. 2020 * $26340 * 2021 8.5 $25230 * 2022 9.2 $23010
Use the following information regarding Metlock, Inc. and Blossom Company to answer the question "Which amount is equal to Metlock, Inc.'s "days in inventory" for 2022 (to the closest decimal place)?" (Use 365 days for calculation.) Year Inventory Turnover Metlock, Inc. 2020 2021 6.8 2022 6.6 Blossom Company 2020 2021 5.5 2022 5.8 62.9 days O 53.7 days O 66.4 days O 55.3 days
Current Attempt in Progress Blossom Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10, 2024, at a cost of $25 per unit. None of this inventory was sold in 2024. Relevant information is as follows. Ending inventory units December 31, 2024 December 31, 2025, by purchase date December 2, 2025 127 July 20, 2025 127 50 177 During the year, the following purchases and sales were made. Purchases Sales March 15 327 units at $30 April 10 227 July 20 327 units at 32 August 20 327 September 4 227 units at 36 November 18 177 December 2 127 units at 38 December 12 227 The company uses the periodic inventory method. (a1) Your answer is correct. Calculate the weighted-average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted-average cost $ (a2) eTextbook and Media Your answer is partially correct. 32.11 Attempts: 1 of 4 used Determine ending inventory under (1) specific identification, (2) FIFO,…
Current Attempt in Progress Sheridan Industries had the following inventory transactions occur during 2025, its first year of operations: Units Cost/unit Feb. 1, 2025 Purchase 93 $39 Mar. 14, 2025 Purchase 160 $40 May 1, 2025 Purchase 114 $42 The company sold 263 units at $54 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1548, what is the company's net income using LIFO? O $1544.90 O $1334.20 O $1906.00 O $2207.00
View Policies Current Attempt in Progress The following data were taken from the financial records of Blossom Company. Net sales Beginning inventory Purchases Ending inventory Inventory turnover 2022 $6,310,000 Days in inventory 970,000 4,994,500 eTextbook and Media 1,040,000 2021 $6,120,000 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 2022 2022 910,000 4,948,000 970,000 times Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2021 days times 2021 days
Current Attempt in Progress Oriole Corporation sells item A as part of its product line. Information as to balances on hand, purchases, and sales of item A are given in the following table for the first six months of 2020. Date January 11 January 24 February 8 March 16 June 11 Purchased 1,380 660 Ending inventory $ Save for Later Quantities Cost of goods sold $ Sold 360 610 Balance 460 1,840 1,480 870 1,530 Unit Price of Purchase $4.60 Compute the ending inventory at June 30 under the perpetual LIFO inventory pricing method. $4.9 $5.3 Compute the cost of goods sold for the first six months under the periodic FIFO inventory pricing method. Attempts: 0 of 1 used Submit Answer
Inventory Write-Down The following are the inventories for the years 2019, 2020, and 2021 for Parry Company: Required:1. Assume the inventory that existed at the end of each year wassold in the subsequent year. Prepare journal entries to record thelower of cost or net realizable value for each of the followingalternatives:a. allowance method, perpetual inventory systemb. direct method, perpetual inventory system2. Next Level Explain any differences in inventory valuation andincome between the two methods
View Policies Current Attempt in Progress Crane Company gives you the following information pertaining to the year 2020. Net sales $860160 Cost of goods sold 484000 Current assets 497000 Current liabilities 254000 Average total assets 1024000 Total liabilities 549000 Net income 135000 The asset turnover ratio of Crane Company is O 0.13. O 1.19. O 0.47. O 0.84. Save for Later Attempts: 0 of 1 used
Haresh
Chapter : Inventory San Corp. conducts an assessment of the inventory held at the end of 2022. The person in charge of the San Corp. warehouse reports some information from inventory, namely from inventory Q, R, and S The cost used to sell each inventory is $30,000 Instructions: Prepare the journal entries necessary to recognize an impairment loss on inventories, if the company uses: a. cost method
What is the: inventory turnover for 2020 average sales period for 2020
Please answer this question