Bobaflex Corporation has ending inventory of $527,156 and cost of goods sold for the year just ended was $8,543,132. What is the inventory turnover? The days’ sales in inventory? How long on average did a unit of inventory sit on the shelf before it was sold?

Q: Spider's Auto Parts Store ended its fiscal year last month with a costof sales of $3,600,000 and an…

A: A ratio that provides information regarding the number of times a company sold or replaced its…

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

A: Formulaes for calculation of inventory turnover ratio are given below   inventory turnover = cost…

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: Net sales are $80,000, cost of goods sold is $30,000, net income is $35,000, inventory is $15,000 at…

A: Inventory turnover ratio computes the number of days the company will take to sell the inventory in…

Q: Flite Company had beginning inventory on May 1 of $12,000. During the month, the company made…

A: Cost of goods available = Beginning Inventory + Goods purchased - Purchase return Cost of goods sold…

Q: Assume a firm's inventory level of $11,500 represents 33 days of sales.  What is the annual cost of…

A: Inventory days is the days which represents Average Inventory taken time to convert it into Sales.…

Q: . What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2…

A: Inventory Turnover: Inventory turnover refers to the number of times a firm is able to replace its…

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: I know that the number of days sales In inventory is the average inventory divided by the avg daily…

A: Inventory value is calculated as the total cost of your inventory at the end of each accounting…

Q: 7. Charles Inc. has an ending inventory of $423,425, and the cost of goods sold for the year just…

A: Solution:- Inventory Turnover ratio computes the pace at which the inventory is being used.

Q: Based on the following data for the current year, what is the inventory turnover? Sales on account…

A: Inventory Turnover ratio : This ratio is the relationship between Cost of goods sold and Average…

Q: inventory

A: Introduction: Ending inventory for a company generally indicates the balance goods which are…

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

A: Answer:

Q: Spree Company sold $769,300 of goods during the year at a cost of goods sold of $548,600. Inventory…

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

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: Mario's Home Systems has sales of $2,830, costs of goods sold of $2,170, inventory of $506, and…

A: Given, sales of $2,830, costs of goods sold of $2,170, inventory of $506, and accounts receivable of…

Q: What was Paloma Company's approximate inventory turnover ratio if the beginning inventory was…

A: gross profit = sales - the cost of goods sold   given that, sales = $60000 gross profit = $22000…

Q: Sandhill Inc. reported inventory at the beginning of the current year of $440000 and at the end of…

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

Q: Windsor, Inc. uses a perpetual inventory system and reported $513,260 of inventory at the beginning…

A: Inventory as per perpetual inventory system = Beginning inventory + Purchases - cost of goods sold =…

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

A: Days sales inventory It is  an estimation of the typical number of days or time expected for a…

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

A:

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: Based on the following data for the current year, what is the inventory turnover? Net sales on…

A: Inventory turnover ratio is calculated as cost of goods sold divided by average inventory.

Q: Spider’s Auto Parts Store ended its fiscal year last month with a costof sales of $3,600,000 and an…

A: Formula to calculate inventory turnover ratio is: ITR=COST OF GOODS SOLDAVERAGE 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: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: Inventory turnover refers to the rate at which the inventory in the company is sold, used, and…

Q: Compute the average days in inventory rounded to the nearest whole day based on the following data:…

A: Meaning : Average days in inventory means the number of days a company keeps its inventory before it…

Q: Ebbers Corporation overstated its ending inventory balance by $15,000 in the current year. What…

A:

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: A Co had sales of $220,000 and purchases of$160,000, together with opening inventory and closing…

A: We have the following information: Sales: $220,000 Purchases: $160,000 Opening Inventory: $24,000…

Q: Tarmac Co made sales of $1,930,200 during the year ended 31st March X3.  Inventory decreased by…

A: The cost of purchases indicates the total cost incurred like the cost of the item, transportation…

Q: Blake distributors had a beginning inventory for June of 100,000. They purchased 25,000 in goods…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Sandhill Inc. reported inventory at the beginning of the current year of $320000 and at the end of…

A: Average inventory = (beginning inventory + ending inventory) /2 = (320000 + 371000) /2 = $345500

Q: Use the following information to complete the calculations below. Cost of goods sold $195,640…

A: Inventory is one of the essential parts of an organisation. In the balance sheet, it is classified…

Q: Palmer Co. had cost of goods sold of $7,576, ending inventory of $2,270, and average inventory of…

A: Inventory turnover ratio = Cost of goods sold / Average stock Day sales in inventory = Ending…

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 shows how frequently a company's…

Q: Dabble, Inc. has sales of $984,000 and cost of goods sold of $644,000. The firm had a beginning…

A: Day's Sales in Inventory = Ending Inventory / Cost of goods sold * 365 days

Q: Belt Company had net sales of $2,225,500,000 and cost of goods sold of $1,479,957,500. Belt had the…

A: We have the following information: Net sales: $$2,225,500,000 Cost of goods sold: $1,479,957,500…

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

A: Answer) Calculation of Days’ Sales in Inventory Days’ Sales in Inventory = (Average Inventory/ Cost…

Q: The cost of goods sold for Home Depot last year amounted to $3,536,800 and the average inventory at…

A: Inventory turnover: It is the rate at which the company sells its inventory. Calculating inventory…

Q: find the inventory turnover at cost.

A: Inventory turnover calculates the number of times inventory can be converted into sales by company.…

Q: a. What is the inventory turnover?

A: Inventory Turnover is otherwise  called as stock turnover ratio. It is a measure which indicates…

Q: The Red Sun Corporation has ending inventory of $250,000, and cost of goods sold for the year just…

A: The inventory turnover ratio is a financial ratio which is calculated using the amount of goods that…