Goldfire Ltd. provided the following information in 2013-2014: 31.3.2012 Particulars Inventory Cost of goods sold Gross Margin 31.3.2013 31.3.2014 S 202,400 S 190,400 S 182,500 S 642,000 S 724,000 S 340,000 S 410,000 Calculate the inventory turnover ratio for 2013 and 2014. Round off your answer to 2 decimal places. a. Inventory turnover ratio for 2013 is 2.88 and for 2014 is 2.46 b. Inventory turnover ratio for 2013 is 3.26 and for 2014 is 3.88 c. Inventory turnover ratio for 2013 is 2.26 and for 2014 is 3.38 d. Inventory turnover ratio for 2013 is 2.36 and for 2014 is 3.88

Goldfire Ltd. provided the following information in 2013-2014: 31.3.2012 Particulars Inventory Cost of goods sold Gross Margin 31.3.2013 31.3.2014 S 202,400 S 190,400 S 182,500 S 642,000 S 724,000 S 340,000 S 410,000 Calculate the inventory turnover ratio for 2013 and 2014. Round off your answer to 2 decimal places. a. Inventory turnover ratio for 2013 is 2.88 and for 2014 is 2.46 b. Inventory turnover ratio for 2013 is 3.26 and for 2014 is 3.88 c. Inventory turnover ratio for 2013 is 2.26 and for 2014 is 3.38 d. Inventory turnover ratio for 2013 is 2.36 and for 2014 is 3.88

Name: Goldfire Ltd. provided the following information in 2013-2014:Particu
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Goldfire Ltd. provided the following information in 2013-2014:ParticularsInventoryCost of goods soldGross Margin31.3.2013 31.3.2014S 202,400 S 190,400 S 182,500$ 642,000 S 724,000 |S 340,000 S 410,000|31.3.2012Calculate the inventory turnover ratio

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

See similar textbooks

Similar questions

Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?
Inventory analysis Costco Wholesale Corporation (COST) and Wal-Mart Stores Inc. (WMT) compete against each other in general merchandise retailing, gas stations, pharmacies, and optical centers. Below is selected financial information for both companies from a recent year's financial statements (in millions): a. Determine for bom companies (1) the inventory turnover and (2) the days' sales in inventory. Round to one decimal place. b. Compare and interpret the inventory metrics computed in (a).
Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of goods sold on October 29, and (c) the inventory on October 31.
Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of the merchandise sold on October 29, and (c) the inventory on October 31.
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Kulsrud Company would like to estimate the current inventory level. Using the gross profit method and the following information, estimate the current inventory level for Kulsrud Company. Goods available for sale 100,000 Net sales 150,000 Normal gross profit as a percent of sales 40%
Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the May 23 purchase, (b) the cost of the merchandise sold on May 26, and (c) the inventory on May 31.
The following data pertain to 2012 activities of Twisp Industries: Use your completed worksheet to determine the firms cost of goods sold for 2012. Remember to change the year in row 24 and to enter new beginning inventory balances. Save the 2012 file as MFG3. Print the worksheet when done. If sales and other expenses were identical in 2011 and 2012, during which year did Twisp earn more income? Why?
Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
Beginning inventory, purchases, and sales for Meta-B1 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the merchandise sold on July 26, and (c) the inventory on July 31.
On December 31, 2013, the year-to-date account balances of selected accounts were as follows: Estimated ending merchandise inventory at December 31, 2013, is __________.