A computer company reported following information in the last fiscal year. (all amounts in millions). Calculate Inventory Turns. What can you say about the performance of this company based inventory turns. Net Revenue $18243 Cost of Goods Sold $14137 Average Raw Material on Hand $234 Average Finished Goods & Work In Progress Inventory $39 Product Material Days of Supply 6 days

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A: SOLUTION :   FIFO Method means First in First out. In this inventory record keeping method, Stock…

Q: 1. Assume the company does not expect to replace the units of beginning inventory sold; it plans to…

A: LIFO: In Last-in-First-Out method, items purchased recently are sold first. So, the value of the…

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A: Solution: Under FIFO method of inventory, inventory purchased first is considered as sold first.…

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A: Cost of goods sold = sales - sales x gross profit ratio = $3100000 - 3100000*30% = $2170000

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A: The formula to compute days sales in inventory as follows:

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Q: Assume that in September, Joplin Designs customers actually return $150,000 of inventory. Using the…

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A:

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