(in millions) 2020 2021 2022 Beginning inventory $2,000 $2,400 $2,600 Ending inventory 2 400 2 600 2 700
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.
Calculate the days in inventory for 2020, 2021, and 2022:
Step by step
Solved in 2 steps
- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).The estimated inventory amount is: P550,000 P600,000 P784,000 P840,000 P720,000ABC Co. financial records on Dec31,2025 A/R,Dec2025-1,680,000 CollectionsofA/R-6,240,000 Allow.forbaddebts,Jan2025-38,400 Invetory,Jan1-2,880,000 Inventory,Dec31-1,500,000 CashSales-1,200,000 Purchases-4,800,000, GrossProfitSales-2,160,000 For current yr, the management decided to change the method in estimating bad debts from % of A/R to aging meth. Of ending bal of A/R, 60% of it belongs to 0-30 days category with 1% uncollectibility rate,30% belongs to 31-60 days age with 5% uncollectibility rate,&rest belongs to 61 & over days category with 10% uncollectibility rate. Bad debts expense for the year is?
- What is the estimated cost of the missing inventory on December 31,2021? a. P151,000 b. P165,000 c. P420,000 d. P585,000Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets P550,000 P585,000Property and Other Assets:Equipment, net P340,000 P320,000Other Assets 15,000 15,000Total Property and Other Assets P355,000 P335,000 Total Assets…The estimated inventory amount is: A. P720,000 B. P600,000 C. P784,000 D. P840,000 E. P550,000
- 2020 2021 Ending inventory at FIFO Cost $21,640 $31,060 Ending inventory at LIFO Cost 10,250 19,500 Cost of goods sold at FIFO Cost $89,590 Cost of goods sold at LIFO Cost 101,150 Sales revenue 144,500 FIFO LIFO Gross profit percentage % %solve The Arc 95-9876556 Income Statement For the Year Ended December 31, 2021 Revenue: Gross Sales $144,000.00 Less: Sales Returns and Allowances - Net Sales $144,000.00 Cost of Goods Sold: Beginning Inventory $10,500.00 Add: Purchases 62,200.00 $72,700.00 Less: Ending Inventory 10,100.00 Cost of Goods Sold 62,600.00 Gross Profit (Loss) $81,400.00 Expenses: Dues and Subscriptions - Estimated Federal Tax Payments 4,000.00 Estimated State Tax Payments 3,900.00 Insurance 3,950.00 Meals and Entertainment 1,500.00 Miscellaneous - Payroll Taxes 3,800.00 Professional Fees 1,700.00 Rent 8,400.00 Travel 1,250.00 Utilities 1,300.00 Vehicle Expenses - Wages 25,000.00 Total Expenses 54,800.00 Net Operating Income $26,600.00 How to calculate capital gain step by step answerE6.14 (LO 3), AP Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company reports inventory and cost of goods sold using the LIFO method. Suppose it reported the following information in its 2025 annual report. (in millions) 2025 2024 Inventories (LIFO) $2,397 $3,042 Current assets 30,857 Current liabilities 12,753 1,367 16,255 LIFO reserve Cost of goods sold Instructions a. Compute Deere's inventory turnover and days in inventory for 2025. (Round inventory turnover to 2 decimal places.) b. Compute Deere's current ratio using the 2025 data as presented, and then again after adjusting for the LIFO reserve. c. Comment on how ignoring the LIFO reserve might affect your evaluation of Deere's liquidity. Idi bried FIEO LIFO and average cost and evaluate impact on gross profil
- For 2020, cost of goods available for sale for Crane Corporation was $5600000. The gross profit rate on sales was 20%. Sales for the year were $5100000. What was the amount of the ending inventory? $1120000. $1520000. $0. $1020000.What is the adjusted balance of inventory on December 31, 2021? a. P250,000 b. P274,000 c. P260,000 d. P300,000CAC Co. provided these information for 2020: Inventory - January 1 : P400,000; Freight in : P300,000; Purchase Returns : P900,000; Inventory - December 31 : P500,000; Selling expenses: P1,250,000; Sales Discount: P250,000. The cost of sales is six times the selling expenses. How much is the gross purchases for 2020?
