A company reports the following: Cost of merchandise sold               $3,120,750 Average merchandise inventory        182,500 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place.

Q: Suppose Maestro’s had cost of goods sold during the year of $230,000. Beginning merchandise…

A: Given information  is: Maestro’s had cost of goods sold during the year of $230,000. Beginning…

Q: From the following information regarding the year to 31 August 20X6, what is the payables' payment…

A: We have the following information: Sales: $43,000 Cost of sales: $32,500 Opening Inventory: $6,000…

Q: Based on the following data for the current year, what is the inventory turnover (rounded to one…

A: Avergae inventory=Merchandise inventory, beginning of the year+Merchandise inventory, end of…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Inventory turnover ratio is a ratio which determines how efficiently and effectively the inventory…

Q: ​Elephant, Inc.'s cost of goods sold for the year is $ 2 comma 400 comma 000$2,400,000​, and the…

A: The correct answer is Option (B).

Q: Based on the following data for the current year, what is the number of days' sales in inventory…

A: Average Inventory = (Inventory, beginning of year + Inventory, end of year) / 2 Average Inventory =…

Q: A company reports the following: Cost of goods sold $335,070 Average inventory 74,460 Determine (a)…

A: Inventory turnover ratio means the number of times a company turns its inventory into sales. The…

Q: Inventory Analysis A company reports the following: Cost of goods sold Average inventory $440,555…

A: Inventory Turnover Ratio :— Inventory turnover is the rate that inventory stock is sold, or used,…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Days sales in inventory = 365/(cost of goods sold/Average inventory)  Average inventory = (Opening…

Q: Using the amounts below, calculate the inventory turnover ratio, average days in inventory, and…

A: Inventory turnover ratio = Cost of goods sold / Average Inventory

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

A: The inventory turnover ratio refers to the number of times, an organization sells and replenishes…

Q: A company reports the following: Cost of goods sold $262,800 Average inventory 52,560 Determine (a)…

A: Formula: Inventory turnover = Cost of goods sold / Average inventory

Q: Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim…

A: The inventory turnover ratio is the ratio that tells about the turnover of the inventory. It shows…

Q: Bobaflex Corporation has ending inventory of $527,156 and cost of goods sold for the year just ended…

A: Given information: Cost of goods sold for the year is $8,543,132 Ending inventory is amounted to…

Q: A company reports the following: Cost of goods sold $216,080 Average inventory 54,020 Determine (a)…

A: The inventory turnover ratio means how many times a company needs to replenish the average inventory…

Q: A company reports the following: Cost of goods sold $585,825 Average inventory 78,110…

A: Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Q: Suppose Maestro’s had cost of goods sold during the year of $230,000. Beginning merchandise…

A: Answer:

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: A company reports the following:Cost of goods sold                           $660,000Average…

A: (a)

Q: Inventory Analysis A company reports the following: Cost of goods sold $381,425 Average inventory…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: The days' sale in inventory is 73. The cost of goods sold is 720,000. The net sales are 1,020,000,…

A:

Q: On December 31st, Baxtor, Inc. has cost of goods sold of $400,000, ending inventory is $14,000,…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

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

A: Inventory turnover ratio (ITR) is a financial ratio that indicates how many times a company's…

Q: Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold…

A: The financial ratios helps to analyse the financial statements of the business on the basis of…

Q: A company reports the following: Cost of goods sold $480,340 Average inventory 68,620 Determine (a)…

A:

Q: A company reports the following:   Cost of goods sold $2,263,000   Average inventory 182,500…

A: Introduction: Inventory turnover is a financial ratio that indicates how frequently a firm's…

Q: Based on the following data for the current year, what is the inventory turnover (rounded to one…

A: The inventory turnover ratio indicates the number of times inventory turns to sales. It can be…

Q: Selected financial information for Baird Company for Year 4 follows: Sales Cost of goods sold…

A: Average inventory = (Beginning inventory + Ending inventory)/2 Merchandise inventory turnover = Cost…

Q: ng: Cost of goods sold $442,380 Average inventory 73,730 Determine (a) the inventory turnover

A: Given  A company reports the following: Cost of goods sold $442,380 Average inventory 73,730…

Q: Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim…

A:

Q: what is the number of days' sales in inventory

A: number of days' sales in inventory =(Ending Inventory/Cost of Goods Sold )X 365 days

Q: Suppose at December 31 of a recent year, the following information (in thousands) was available for…

A: First calculate average inventory.

Q: Based on the following information compute (a) inventory turnover, (b) average daily cost of…

A: Inventory turnover ratio refers to number of times inventory is sold or used in a given period.

Q: A company reports the following: Cost of goods sold $464,280 Average inventory 77,380 Determine (a)…

A: Inventory Turnover = Cost of goods sold / Average Inventory Number of days sales in Inventory =…

Q: A company reports the following: Cost of goods sold $478,150 Average inventory 95,630 Determine (a)…

A: Inventory Turnover ratio indicates how quickly Inventory convert into the sales.

Q: A company reports the following:   Cost of goods sold $610,000   Average inventory 80,000…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: Inventory Analysis A company reports the following: Cost of merchandise sold $569,400 Average…

A: Solution a: Inventory turnover = Cost of merchandise sold / Average merchandise inventory = $569,400…

Q: A company reports the following: Cost of goods sold $610,000 Average inventory 80,000 Determine…

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

Q: a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in…

A:

Q: Cost of merchandise sold Inventory, end of year Inventory, beginning of the year $894,000 78,000…

A: Inventory Turnover is defined as the total number of times the company has"turned" Inventory over ie…

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

A: Inventory turnover:   Inventory turnover ratio is a measure of liquidity, which evaluate how…

Q: The following data were taken from the income statements of Cullumber Company.     2022   2021…

A: Formulas:

Q: A company reports the following: Cost of goods sold $618,675 Average inventory 82,490 Determine (a)…

A: Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Q: A company reports the following: Cost of merchandise sold $680,400 Average merchandise inventory…

A: Inventory turnover = Cost of merchandise sold / Average merchandise inventory Number of days' sales…

Q: Selected financial information for Stuart Company for Year 4 follows: Sales $2,050,000 1,435,000…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: A company reports the following: Cost of merchandise sold $1,460,000 Average merchandise inventory…

A: Cost of goods sold =1460000 Average inventory =182500 Inventory turnover ratio =Cost of goods…

Q: A company reports the following:Cost of goods sold                                $435,000Average…

A: a. Compute inventory turnover ratio.