What is the company’s inventory turnover ratio

Q: The following company information is available: Average accounts receivable $800,000​ Average…

A: The objective of the question is to calculate the company's inventory turnover ratio. The inventory…

Q: Assume a firm's inventory level of $11,000 represents 32 days' sales. Required: a. What is the…

A: The inventory turnover ratio indicates how many times the inventory was sold. It also indicates the…

Q: The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid…

A: Current Liabilities: These are liabilities that are due in less than a year and are expected to pay…

Q: XYZ Corporation has ending inventory of $736,928, and cost of goods sold for the year just ended was…

A: Inventory turnover is a financial ratio that measures how many times a company's inventory is sold…

Q: The following data were extracted from the income statement of Keever Inc.:   Current Year Previous…

A: Formulaes for calculation of inventory turnover ratio are given below   inventory turnover = cost…

Q: (a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and…

A: The question is related to Ratio Analysis. The formula used 1.Current Ratio is calculated with the…

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: The following data were extracted from the income statement of Shriver Inc.: Current Year Prior Year…

A: DIO( Days Inventory Outstanding)=(Avg Inventory/COGS)*No of days

Q: Find the stock turnover at cost and at retail. Average Inventory at Cost $22,310 The stock turnover…

A: Inventory includes all the items, merchandise, and raw materials that are used by the business…

Q: Exercise 6-13 Inventory turnover and days' sales in inventory LA3 0 Use the following information…

A: The number of times a company sells or uses goods in a certain time period is known as inventory…

Q: Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round…

A: The inventory turnover ratio is the financial ratio formula which is used to determine the number of…

Q: The inventory turnover ratio across companies in the furniture industry is 3.289x. Based on this…

A: You are correct. Adams Furniture is holding more inventory per dollar of sales compared with the…

Q: The inventory turnover ratio across companies in the electronics industry is 12.6905x. Based on this…

A: Data given: Cash =$ 30,150 Accounts receivable=$16,750 Total current assets=$67,000 Annual…

Q: A7X Corporation has ending inventory of $815,716, and cost of goods sold for the year just ended was…

A: Cost of Goods Sold  = $9,647,235Inventory = $815,716Number of days in year = 365

Q: Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory…

A: 1. Lewis = 295,200Clark = 116,0002.Lewis = 12.3Clark = 2.003. Lewis = 29.67 daysClark = 182.5 days4.…

Q: A company had an average inventory last year of $180,000 and its inventory turnover was 5. If sales…

A: Inventory Turnover Ratio: Inventory turnover refers to the pace at which inventory stock is sold,…

Q: Compute Altoona Company's (a) inventory turnover ratio and (b) number of days' sales in inventory…

A: Inventory Turnover Ratio:- Inventory turnover ratio is a financial metric used to measure how many…

Q: (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The following data were extracted from the income statement of Keever Inc.:   Current Year Previous…

A: The inventory turnover ratio helps to analyze the efficiency of the business to convert its…

Q: Cost of goods sold for Abe Distributors was $550,330 for the year. If the beginning inventory at…

A: Ratio analysis is one of the important technique of management accounting. Under this, various…

Q: Soaring Eagles Corp. has total current assets of $11,320,000, current liabilities of $5,204,000 and…

A: Quick Ratio = (Current Assets - Inventory) / Current Liabilities

Q: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: The question is related to Ratio Analysis. Inventory turnover is calculated with the help of…

Q: Zarruk Construction's DSO is 34 days (on a 365-day basis), accounts receivable are $68 million, and…

A: DSO=34 daysAccounts Receivables=$68 millionInventory=$156 millionCost of goods sold=70% of…

Q: Determine the Inventory Turnover Ratio (ITR) and Days Sales Outstanding (DSO

A: The Inventory Turnover Ratio is the cycle of sale and purchase of goods by a company over a…

Q: Triple J Company has a current ratio of 3.1. The acid test ratio is 2.4. The current liabilities of…

A: Current ratio :— It is calculated by dividing current assets by current liabilities.  Current ratio…

Q: Lewis Incorporated and Clark Enterprises report the following amounts for the year.     Lewis Clark…

A: The ratio analysis helps to analyze the financial statements of the business on the basis of the…

Q: Net sales $ 245,000   Cost of goods sold   176,000   Beginning inventory   54,000   Ending inventory…

A: Given information: Net sales is $245,000 Cost of goods sold is $176,000 Beginning inventory is…

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: Sandhill Inc. reported inventory at the beginning of the current year of $440000 and at the end of…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory  = (Beginning…

Q: Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory…

A: 1:  Lewis:Cost of goods sold: $266,200 Clark:Cost of goods sold: $173,600  2: Lewis: Inventory…

Q: The Zone, Inc. has an ROE of 0.10, no debt, and a Total Asset Turnover of 2.8x. What is the Zone's…

A: Net profit margin is a measure of the profitability of a company. Days' Sales in Inventory is the…

Q: Inventory turnover at GTM Inc.:The average inventory levels at GTM are $1,200,000 and $2,500,000,…

A: Total Average Inventory = Average Raw Materials Inventory + Average WIP Inventory + Average Finished…

Q: Aster Limited has a current ratio of 1.75 to 1 and current liabilities of $20,000. If Aster…

A: Financial Ratio: A financial ratio, also known as an accounting ratio, is the ratio of the size of…

Q: Harry & Co. has a current ratio of 3.5 : 1 and quick ratio of 2 : 1. If the excess of current assets…

A: Ratio Analysis: Ratio analysis is a quantitative method of gaining insight into a company's…

Q: The company's inventory turnover ratio is _______.

A: Inventory turnover ratio is a financial ratio that measures the efficiency and effectiveness of a…

Q: The following data were extracted from the income statement of Brecca Systems Inc.: Current Year…

A: Given:

Q: A company reports the following: Line Item Description Amount Cost of goods sold $2,007,500 Average…

A: Solution:a.   Inventory turnover = Cost of good sold / Average inventory…

Q: The Blue Moon Corporation has ending inventory of $400,000, account receivable of $330,000, and cost…

A: Inventory = $400,000Cost of Good Sold = $2,700,000

Q: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: Inventory turnover refers to the rate at which the inventory in the company is sold, used, and…

Q: If your cost of goods sold for the year was $825,000, with beginning inventory of $240,000 and…

A: The inventory turnover ratio is a kind of efficiency ratio that indicates the number of times…

Q: (b) A company had an average inventory last year of $209,000 and its inventory turnover was 6. If…

A: The current ratio, commonly referred to as the working capital ratio, assesses a company's capacity…

Q: The following information is available for Bridgeport Corporation for 2022: Beginning inventory…

A: Formula is as follows Inventory turnover =  cost of goods sold / average inventory Average inventory…

Q: The cost of goods sold for Veltron International last year amounted to $534,600, and the average…

A: The inventory turnover ratio can be calculated by dividing the cost of goods sold by average…