XYZ Corporation had the following data in 2022 below: Total assets = P300,000 Gross profit margin = 25% Quick ratio = 0.80 x Bond payable = P60,000 Days sales outstanding = 36 days Debt ratio = 50% Retained earnings = P97,500 Times interest earned= 6 x Inventory turnover = 5 x Total assets turnover = 1.5 x No. of days in a year = 360 days Tax rate = 35% Compute the average merchandise inventory.

XYZ Corporation had the following data in 2022 below: Total assets = P300,000 Gross profit margin = 25% Quick ratio = 0.80 x Bond payable = P60,000 Days sales outstanding = 36 days Debt ratio = 50% Retained earnings = P97,500 Times interest earned= 6 x Inventory turnover = 5 x Total assets turnover = 1.5 x No. of days in a year = 360 days Tax rate = 35% Compute the average merchandise inventory.

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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