If a firm's inventories on hand are $200,000, its cost of goods sold is $600,000, and its sales are $800,000, what is the inventory turnover?

Q: Calculate the value of cost of goods sold for Thompson company given the following information:…

A: Quick Ratio = Liquid Assets / Current Liabilities Current Ratio = Current Assets/ Current…

Q: The cost of goods sold for a company for the year was $1,900,000.  Merchandise inventory at the…

A: Merchandise inventory turnover ratio is calculated by dividing the cost of goods sold by the average…

Q: A company's sales equal $60,000 and cost of goods sold equals $20,000. Its beginning inventory was…

A: The inventory turnover ratio is calculated using the cost of goods sold and the average inventory.…

Q: Arconic has $2,284 (million) worth of inventory and their COGS are $9,332 (million). The average…

A: Average inventory is a calculation that estimates the value or variety of a particular good or set…

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: Walker Corp. has current liabilities of $440,000, a quick ratio of .81, inventory turnover of 5.7,…

A: Quick ratio = Quick assets / Current liabilities Quick assets = Current assets - Inventory - Prepaid…

Q: For the year, your company's sales are $305,000, the gross profit is $250,000, and ending inventory…

A: Gross profit = Net sales - Cost of goods sold where, Cost of goods sold = Beginning inventory + Net…

Q: A firm had beginning inventory of OR 15000, ending inventory of OR 20000 and cost of goods sold of…

A: Statement of profit and loss account is prepared by a business to determine its financial results…

Q: JKL Company’s sales are $1,000,000 and the Cost of Sales is $400,000 The beginning and ending…

A: Formula: Inventory turnover ratio = ( Cost of sales / Average inventories ) x 100 Average inventory…

Q: Carrilion Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods…

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

Q: Given the following data, what is the cost of goods sold? Sales revenue $950,000 Beginning inventory…

A: Cost of Goods Sold - Cost of Goods Sold is the cost incurred by the company to earned sales for the…

Q: A company has an average inventory on hand of P100,000 and the days in inventory are 73 days. What…

A: Days in inventory=Average inventoryCost of goods sold×365 days

Q: Zarruk Construction's DSO is 50 days (on a 365-day basis), accounts receivable are $100 million, and…

A: Given information: Company’s DSO is 50 days, Number of days in a year is 365 days, Accounts…

Q: If a company has beginning inventory of $30,000 and ending inventory of$55,000, compute its average…

A: Beginning inventory = $30000 Ending inventory =$55,000 COGS = $140,000 Average inventory = Beginning…

Q: National Co. has P5 million in inventory and P2 million in accounts receivable. Its average daily…

A: The inventory conversion period means, in how many days the inventory is converted into sales by the…

Q: Fulmer company has an inventory turnover ratio of 6. Their Annual CoGS are $750,000. If I were to…

A: Given the following information: Inventory turnover ratio: 6 Cost of goods sold: $750,000

Q: Dabble, Inc. has sales of $980,000 and cost of goods sold of $640,000. The firm had an average…

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

Q: Tee company had a $20,000 beginning inventory and $24,000 ending inventory. Net sales were $160,000;…

A: Cost of goods sold = Beginning inventory + Net purchases + Freight in - Ending inventory

Q: The following information is available for Jisoo Company for the current year: Net Sales…

A: Cost of goods sold = sales - gross profit = 3600000-3600000*40% = 2,160,000

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: The revenue for a firm is $2,500,000. Its cost of revenue is $850,000, and its average inventory for…

A: 1. Inventory turnover ratio= =Cost of goods sold/Average inventory = $850,000/$62,000 =13.71 times

Q: What is the inventory turnover ratio for ABC Corp. if cost of goods sold equals $5,000, current…

A: Given the following information: Cost of goods sold: $5,000 Current ratio: 3 Quick ratio: 1.5…

Q: A firm sold goods worth ₹ 5,00,000 and it's gross profit is 20 percent of sales value. The inventory…

A: Inventory Turnover Ratio = Cost of goods sold / Average stock       Inventory Holding Period = 365…

Q: A retailer has annual sales of $500,000 and an average finished-goods inventory of$15,000. If the…

A: Introduction: Inventory turnover ratio is defined as the number of times a business would sell or…

Q: The balance sheet of a company lists $25 million of inventory. What assertions is management making…

A:

Q: Highly Suspect Corp. has current liabilities of $409,000, a quick ratio of 1.40, inventory turnover…

A: Current Ratio = 3.50 Quck Ratio = 1.40 Current Liabilities = $409,000 Inventory turnover = 4.00

Q: How much were inventory purchases when cost of goods sold was $250,000, beginning inventory was…

A: Cost of goods sold= opening inventory + Purchases - Closing inventory

Q: If a firm's beginning inventory is $35,000, goods purchased during the period cost $130,000, and the…

A: Cost of goods sold is calculated by adding the beginning inventory and purchases and deducting the…

Q: The Cost of Goods Sold amounted to ₱285,000. Net cost of purchases totaled ₱ 85,000. Beginning…

A: Gross profit is the excess of sales over cost of goods sold. Cost of goods sold is the cost at which…

Q: If average inventory is P80,000 and the inventory turnover ratio is 20, how much is the cost of…

A: Calculate the costs of goods sold (COGS) by multiplying the average inventory which is P80,000 with…

Q: Kraft Inc. has a gross profit of $45,000 on sales of $150,000. The balance sheet shows average total…

A: The gross profit represents the income generated by the corporation after eliminating the costs of…

Q: Pul Company has the following details: Sales (60% is on credit)                 1,500,000 Cost of…

A: The question is based on the concept of calculation of ratio analysis for given company.

Q: Determine the stockturn rate of a retailer carrying an average inventory at cost of $850,000, with a…

A: Retailer need merchandise  to make sales . in fact , a retailer inventory is its biggest asset . net…

Q: Suppose the net sales is 1,60,000 for a firm and cost of goods sold is 40,000. Calculate gross…

A: Gross Profit Ratio is a financial ratio that measures the performance and efficiency of a business…

Q: The company made purchases of P60,000 and sales of P85,000 with P10,000 left in inventory. If the…

A: Cost of sales means how much cost of goods or products has been sold to the customers. Some…

Q: If Happy Corporation has cost of goods sold of P300,000, sales of P600,000, and inventory of…

A: Inventory turnover is calculated as ratio of cost of goods sold and ending inventory balance. The…

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: Cullumber Corp. has a gross profit margin of 40.00 percent, sales of $39,000,000, and inventory of…

A: Inventory turnover is a ratio showing how many times a company has sold and replaced inventory…

Q: Beckenworth had cost of goods sold of $9,921 million, ending inventory of $2,589 million, and…

A: Entities use the days sales in inventory (DSI) ratio to assess the average amount of time for the…

Q: A firm has an average account payable of of $75,000 and beginning inventory of $30,000.ending…

A: Account payable = $ 75000 Opening balance = $ 30000 Closing balance = $ 80000 COGS = $ 500,000…

Q: iorgio had cost of goods sold of $9,637 million, ending inventory of $2,305 million, and average…

A: The following calculations are done for Giorgio.

Q: A firm with sales of $500,000 has average inventory of $200,000. T he industry average for inventory…

A: Computation of inventory turnover:

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