Inventory turnover. Given info, $ millions Apple Microsoft Current year ($) One year prior ($) Two years prior ($) Current year ($) One year prior ($) Two years prior ($) Inventory 2,349 2,111 1,764 2,902 2,660 1,938 Cost of sales 140,089 112,258 106,606 33,038 27,078 20,385 Table (1)

Question

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Answer 1

Question

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

2.

To determine

To compute: Day’s sales in inventory.

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Accounting problem

The tax authorities of Country A implemented several tax reforms with the main objective of achieving simplicity in the tax process. All of the following will help Country A in achieving their objective except: A.Reducing the number of lines on the tax form so that taxpayers don’t have to spend as much time filling out forms. B.Reducing the number of pages in the tax law so that it is easier to understand. C.Eliminating loopholes that some taxpayers use to avoid paying taxes. D.Using fewer forms and more user friendly instructions so that there is less hassle, less agony, and more free time.

Can you explain the correct methodology to solve this general accounting problem?

Answer 2

Question

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

2.

To determine

To compute: Day’s sales in inventory.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

2.

To determine

To compute: Day’s sales in inventory.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

2.

To determine

To compute: Day’s sales in inventory.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

2.

To determine

To compute: Day’s sales in inventory.

Answer 6

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

Answer 7

Chapter 5, Problem 2BTN

1.

To determine

To compute: Inventory turnover.

Given info,

$ millions

Apple

Microsoft

Current year
($)

One year prior
($)

Two years prior
($)

Current year
($)

One year prior
($)

Two years prior
($)

Inventory

2,349

2,111

1,764

2,902

2,660

1,938

Cost of sales

140,089

112,258

106,606

33,038

27,078

20,385
Table (1)

Answer 8

2.

To determine

To compute: Day’s sales in inventory.

Answer 9

2.

To determine

To compute: Day’s sales in inventory.

Answer 10

Expert Solution & Answer

Answer 11

Expert Solution & Answer

Answer 12

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Answer 13

Ch. 5 - Prob. 1MCQ Ch. 5 - Prob. 2MCQ Ch. 5 - Prob. 3MCQ Ch. 5 - Prob. 4MCQ Ch. 5 - Prob. 5MCQ Ch. 5 - Prob. 6MCQ Ch. 5 - Describe how costs flow inventory to cost of goods...Ch. 5 - Where is the amount of merchandise inventory...Ch. 5 - Why are incidental costs sometimes ignored in...Ch. 5 - Prob. 4DQ

$ millions	Apple			Microsoft
$ millions	Current year ($)	One year prior ($)	Two years prior ($)	Current year ($)	One year prior ($)	Two years prior ($)
Inventory	2,349	2,111	1,764	2,902	2,660	1,938
Cost of sales	140,089	112,258	106,606	33,038	27,078	20,385
Table (1)

Inventory turnover. Given info, $ millions Apple Microsoft Current year ($) One year prior ($) Two years prior ($) Current year ($) One year prior ($) Two years prior ($) Inventory 2,349 2,111 1,764 2,902 2,660 1,938 Cost of sales 140,089 112,258 106,606 33,038 27,078 20,385 Table (1)

To compute: Inventory turnover. Given info, $ millions Apple Microsoft Current year ($) One year prior ($) Two years prior ($) Current year ($) One year prior ($) Two years prior ($) Inventory 2,349 2,111 1,764 2,902 2,660 1,938 Cost of sales 140,089 112,258 106,606 33,038 27,078 20,385 Table (1)

To compute: Day’s sales in inventory.

Want to see the full answer?

Chapter 5 Solutions