Complete the following: (Round your answers to the nearest hundredth.)     Average Inventory at Cost Average Inventory at Retail Net Sales Cost of Goods Sold Inventory Turnover at Cost Inventory Turnover at Retail $14,000 $21,540 $70,000 $49,800

Q: Use the following information relating to Clover Company to calculate (a) the inventory turnover…

A: The ratio is calculated to determine the relationship between 2 numbers. In accounting, Ratios are…

Q: Lamas has the following products in inventory at the year end: Selling Price P 65 P 23 P 25 Selling…

A: As per accounting standard 2, all inventories in the business should be valued at lower of cost or…

Q: At December 31, 2022 the following information (in thousands) was available for Swifty Inc: ending…

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

Q: Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost,…

A: * Answer 4,6 and 8 is only asked   Inventory turnover ratio = Cost of Goods Sold/ Average Inventory…

Q: From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent…

A:

Q: Compute the inventory turnover ratio and average selling period from the following data of a trading…

A: Inventory turnover ratio determines no of times inventory is consumed in the given time period…

Q: Based on the following data, estimate the cost of the ending merchandise inventory: Sales $9,250,000…

A: The cost of ending merchandise inventory is calculated as follows:

Q: The following information was available for Oriole Company at December 31, 2022: beginning inventory…

A: Inventory Turnover Ratio means the number of times the company has been providing a given product at…

Q: Carla Vista Enterprises reported the following information for 2014: Beginning inventory   $ 37,760…

A: The question is based on the concept of Accounting Ratios.

Q: A company reports the following:   Cost of goods sold $4,788,800   Average inventory 292,000 Round…

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

Q: Presented below is information related to Aaron Rodgers Corporation for the current year.…

A: a. Cost of Goods sold = Sales revenue - Sales revenue x gross profit ratio…

Q: Broadway Communications reported the following figures in its annual financial statements: (Click…

A: Average inventory = ($560 + $450)/2 Average inventory = $1,010/2 Average inventory = $505…

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: Compute the inventory turnover ratio based on the following data: Sales revenue…

A: Inventory turnover ratio is the measure which is used to know the number of times company has sold…

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: Use the following information:           Net sales $ 205,000   Cost of goods sold   144,000…

A: Ratio analysis is a tool used by the financial analyst to measure the financial performance of the…

Q: From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent…

A: cost ratio = cost of goods availabe for sale retail value of good available

Q: Using the retail method and the following data, estimate the cost of ending inventory. (Round…

A: Formula: Cost to retail Ratio= Opening Inventory at Cost- Purchase at CostOPening Inventory at…

Q: Computing the rate of inventory turnover and days’ sales in inventory Broadway Communications…

A: Workings: Cost of Goods sold = $ 18400 Beginning Inventory = 560 Ending Inventory = 450 Average…

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

A: Average days in inventory is calculated to how quickly a company can convert its inventory into…

Q: Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to…

A: Formula: Gross margin = sales - cost of goods sold. Deduction of cost of goods sold from sales value…

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

A: Given: Inventory, beginning of year 39,811 Inventory, end of year 39,291 Cost of goods…

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: 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: Blue Company has the following data for the year: $140,000 Beginning inventory Net sales revenue…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is…

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: At December 31, 2022, the following information (in thousands) was available for Swifty Inc.: ending…

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

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: Use the following information to calculate Bead It, Inc.'s Cost of Goods Sold for the year. Note:…

A: Cost of goods sold  = Beginning Inventory + Purchases - Closing Inventory Where Beginning Inventory…

Q: Given the following information, how much is the Inventory, beginning? Inventory end. P162,000 Net…

A: Cost of goods sold (COGS) : Cost of goods sold budget shows the expenses incurred for producing a…

Q: The following information was available for Oriole Company at December 31, 2022: beginning inventory…

A: Compute the average inventory.

Q: Given the following, calculate the estimated cost of ending inventory using the gross profit method.…

A: Ending inventory = Cost of goods available for sale - Cost of goods sold Cost of goods sold = Sales…

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: Calculate inventory turnover at cost (to nearest hundredth, format as 1.23 that's it, it's a ratio):…

A: Inventory turnover is calculated as ratio of cost of goods sold and average inventory

Q: use the following information relating to clover company to calculate the inventory turnover, ratio,…

A: Inventory Turnover Ratio = Cost of goods sold/ Average Inventory

Q: Using the data below, calculate the cost of merchandise sold. Beginning inventory, $1,000 Inventory…

A: Solution: Particulars Amount ($) Beginning Inventory 1,000 Add: Inventory purchased 3,000…

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: Presented below is information related to Stellar Company. Cost Retail Beginning inventory $53,940…

A: Ending inventory at retail = Beginning Inventory + Purchases + Net markups - Net Markdowns - Sales…

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: At December 31, 2014, the following information was available for A. Kamble Company:   ending…

A: We have the following information: Ending Inventory: $40,200 Beginning Inventory: $57,470 Cost of…

Q: A company reports the following: Cost of merchandise sold               $3,120,750 Average…

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

Q: If net sales are $300,000, cost of goods available for sale is $280,000, and gross profit…

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

Q: Given the following, calculate the estimated cost of ending inventory using the gross profit method.…

A:

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: 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…