Products manufactured by Company A.

Question

Want to see the full answer?

Answer 1

Question

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

2.

To determine

To identify: The inventory method used by the company.

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

York Digital has an accounts receivable turnover for the year of 7.5. Net sales for the period are $180,000. What is the number of days' sales in receivables?

ABD Enterprises' total quick assets were $7,420,000, its current assets were $10,100,000, and its current liabilities were $6,800,000. Its acid-test ratio equals _.

Please provide correct solution and accounting

Answer 2

Question

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

2.

To determine

To identify: The inventory method used by the company.

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

2.

To determine

To identify: The inventory method used by the company.

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

2.

To determine

To identify: The inventory method used by the company.

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

2.

To determine

To identify: The inventory method used by the company.

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Answer 6

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

Answer 7

Chapter 5, Problem 5BTN

1.

To determine

To identify: Products manufactured by Company A.

Answer 8

2.

To determine

To identify: The inventory method used by the company.

Answer 9

2.

To determine

To identify: The inventory method used by the company.

Answer 10

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

Answer 11

3.

To determine

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

Answer 12

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Answer 13

4.

To determine

To compute: Inventory turnover and days’ sales in inventory for the year 2015.Also comment on the results.

Given info,
Cost of sales amount to $140,089.
The ending inventory amounts to $2,349.
The beginning inventory amounts to 2,111.
An industry average inventory turnover is 15 times.
And average days’ sales in inventory are 9 days.

Inventory Turnover:

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 17

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

Products manufactured by Company A.

Videos

To identify: Products manufactured by Company A.

To identify: The inventory method used by the company.

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin

Want to see the full answer?

Chapter 5 Solutions

Products manufactured by Company A.

Videos

To identify: Products manufactured by Company A.

To identify: The inventory method used by the company.

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it. Given info, Sales are for $233,715. Cost of sales amount to $140,089. Industry average for the gross margin ratio is 40%. Gross margin

Want to see the full answer?

Chapter 5 Solutions

To compute: Gross margin and gross margin ratio for the year 2015.Also comment on it.

Given info,
Sales are for $233,715.
Cost of sales amount to $140,089.
Industry average for the gross margin ratio is 40%.

Gross margin