Answer the Question based the data given below ; OPENING STOCK OMR 25000 CLOSING STOCK OMR 35000 NET PURCHASES OMR 130000 MANUFACTURING EXPENSES OMR 30000. What will be the inventory turnover ratio? a. 6 b. 4 c. 4.5 d. 5

Q: What will be the inventory turnover ratio based on the following given information?   Net sales are…

A: Solution: Inventory turnover ratio is calculated to know how much time in a year company is able to…

Q: Calculate the missing amounts of inventory in each of the following scenarios: Beginning Inventory…

A: Ending inventory = Beginning inventory + Purchased - Cost of goods sold Cost of goods sold =…

Q: 1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost…

A: Opeining inventory + purchase = Cost of Sales + Closing inventory

Q: Given the following data for Al-Madar co. for 2021: Inventory at Cost (31/12/2021) 22000 Inventory…

A: Cost of goods sold means the cost incurred on the goods which has been sold out. This figure can be…

Q: The GMA corporation shows the folowing data related to an item of Inventory Inventory, January 1 100…

A: Total cost of goods available = (100 x P50) + (300 x P54) + (90 x P60) = P26,600

Q: Valuing Inventory Using Lower-of-Cost-or-Net Realizable Value Printer Inc. discloses the following…

A: GIVEN     Valuing Inventory Using Lower-of-Cost-or-Net Realizable Value Printer Inc. discloses the…

Q: The transactions below are for Product A occurred during March:           Date…

A: A. Calculate the following (a) through (f): Working notes:

Q: 1.1 REQUIRED Complete the table for the transactions provided for each of the following methods of…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Following are the Dhofar Company's information: Gross sales. . OMR 255000, ....... Sales returns and…

A: The gross profit margin ratio is calculated by deducting the cost of goods sold from the sales…

Q: Using the LIFO inventory costing method compute ending inventory and cost of goods sold from the…

A: SOLUTION-   THERE ARE THREE TYPES OF METHODS- FIFO , LIFO AND WEIGHTED AVERAGE METHOD .   ENDING…

Q: Using the LIFO inventory costing method compute ending inventory and cost of goods sold from the…

A: LIFO method assumes that the last unit to arrive in inventory is sold first. The older inventory,…

Q: Below is information related to Company's Inventory: Units Price per Unit Total **** ** **********…

A: LIFO (Last-in First Out): Under LIFO inventory system, Units purchased last are sold first.

Q: Complete the following: (Round your answers to the nearest hundredth.)     Average…

A:

Q: Project the average inventory balance in Year X and use it to compute the implied ending inventory…

A: The term sales revenue represents gross earnings generated by selling goods and services in the…

Q: Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round…

A: Inventory turnover ratio = cost of goods sold / Average inventory  Average inventory = Beginning…

Q: Use the following information for Shafer Company to compute inventory turnover for year 2. Year 2…

A: Inventory Turnover- It refers to the ratio which shows how many times the inventory has been brought…

Q: Valuing Inventory Using Lower-of-Cost-or-Net Realizable Value Printer Inc. discloses the following…

A: Lower of Cost or Net Realizable Value (LCNRV): Inventory is valued at every period end to report in…

Q: The following table shows some selected financial information of ABC Company. Gross sales. . OMR…

A: Solution:- Calculation of inventory turnover ratio as follows under:-

Q: a. Based on Table 1, compute the company's supply chain performance in terms of inventory turnover…

A: The answer is stated below:

Q: Explain how the inventory valuation method (LIFO or FIFO) chosen by a company affects the cost of…

A: Inventory management refers to the valuation of inventory in three ways FIFO, LIFO and weighted…

Q: lassification Quantity Cost per Unit NRV per Unit Paper Stock X 400 $300 $330 Stock Y 120 250 230…

A: As per the relevant provision of GAAP, Stock is always valued at lower Cost or NRV, any loss arising…

Q: Compute the Inventory turnover ratio from the following information: Opening Stock =P50,000 Closing…

A: Inventory turnover ratio = Cost of raw material consumed / Average stock of raw material Average…

Q: The following items are related to the inventory (OMR). 1- Purchase price 18000 2- Abnormal waste…

A: In order to write down inventory, a component of the inventory asset must be charged to expenditure…

Q: The following information relates to a company's year-end inventory: Cost of inventory OMR 1880;…

A: Cost of Inventory = OMR1,880 Selling Price = OMR 2,000  Normal Profit margin = 10% of selling price…

Q: Below is information related to Company's Inventory: Units **** *** Price per Unit Total ** *** ***…

A: FIFO (First-in First Out): Under FIFO inventory system, units purchased first are sold first.

Q: ind the missing numbers for the following case:   Beginning Stock net Purchases Ending Stock…

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: Elijah Company uses the conventional retail inventory method to account for inventory. Cost Retail…

A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…

Q: Platinum Taco Shell Inc. uses a retail inventory method. Below is last year's data: Cost Retail…

A: Under this retail inventory method, the initial cost to retail ratio is computed first which is…

Q: The comparative inventory balances for December 31, end of the year, for a company are provided…

A: Horizontal analysis is prepared to calculate the variance from previous year by showing…

Q: dollar-value LIFO method

A: Year Inventory  (end Year) (Actual Cost) Price Index nventory  (end Year) (base year Cost)…

Q: Presented below is information related to X Company "Date End - of- Ending Inventory Year ) ( FIFO )…

A: The term inventory refers to both the raw materials utilised in production and the finished items…

Q: Below is information related to Company's Inventory: Units Price per Unit Total ** ** ** ****: *****…

A: Under the FIFO method of inventory, earliest purchases are sold first and therefore, cost of goods…

Q: The XYZ Company completed the following perpetual inventory transactions: May 1 Beginning inventory…

A: As per FIFO method, the ending inventory is valued at the price that is used in purchasing the…

Q: The company "ALPHA" started operations on 01/06/202X. The transactions of buying and selling…

A: First In, First Out, generally known as FIFO, is a valuation technique in which assets created or…

Q: Below is information related to Company's Inventory: Units Price per Unit Total ** ** *** **** ***…

A: The inventory valuation method is used to evaluate the closing inventory and cost of goods sold…

Q: The following table shows some selected financial information of ABC Company. Gross sales..... OMR…

A: The inventory turnover ratio presents the number of times by which the inventory is turned into the…

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

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

Q: RJ Corporation has provided the following information about one of its Inventory hems: Date alte…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sell…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.