Oliver Incorporated has a current ratio equal to 1.6 and a quick ratio equal to 1.2. The company has $2 million in sales and its current liabilities are $1 million. What is the company’s inventory turnover ratio?

Q: Beach Wear has current liabilities of $350,000, a quick ratio of 1.65, an inventory turnover of 3.2,…

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

Q: In 2021, Miralku Power Corp had sales of P200 million, and have 5.O inventory turnover ratio. The…

A: Sales = P200 million Inventory turnover ratio = 5.0 Inventory = Sales/Inventory turnover ratio…

Q: The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid…

A: Current Liabilities: These are liabilities that are due in less than a year and are expected to pay…

Q: JP Vineyards has sales of $891,000, a gross  profit margin of 0.322, and inventory of $179,000. What…

A: Here, to solve this question we have to find the cost of goods sold, and then the cost of goods sold…

Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of…

A: Formula: Times interest ratio = Operating income / interest expense

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: Ivanhoe Corp. has a gross profit margin of 35.00 percent, sales of $33,000,000, and inventory of…

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

Q: WW Co has a current ratio of 2. Receivables are $3 million and current liabilities are $2 million.…

A: We have the following information: Current Ratio: 2 Receivables: $3,000,000 Current Liabilities:…

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: Crane Inc. has sales of $4,900,000, a gross profit margin of 24.0 percent, and inventory of…

A: Inventory Turnover Ratio: It is a ratio that helps in analyzing a number of times inventory is sold…

Q: (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: If PetCo had net sales of $600,000, goods available for sale of $450,000, and cost of goods sold of…

A: Formula: Gross margin = Total sales - Cost of goods sold

Q: Cupery Co. has net sales of $105,000, cost of goods sold of $70,000, and operating expenses of…

A: Gross Profit = Net Sales - Cost of Goods Sold   Gross Profit Rate = Gross Profit Net Sales * 100

Q: Soaring Eagles Corp. has total current assets of $11,320,000, current liabilities of $5,204,000 and…

A: Quick Ratio = (Current Assets - Inventory) / Current Liabilities

Q: Dungy Training Company has a current ratio of 0.70 to 1, based on current assets of $3.43 million…

A: Current Ratio is the ratio of current assets and current liabilities of the firm. It measures…

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: Determine the Inventory Turnover Ratio (ITR) and Days Sales Outstanding (DSO

A: The Inventory Turnover Ratio is the cycle of sale and purchase of goods by a company over a…

Q: Crockett Electronics has a quick ratio of 2.00x, $26,775 in cash, $14,875 in accounts receivable,…

A: Quick ratio of the firm is 2.00x , current assets is $59,500 and current liabilities is $20825.…

Q: Elephant, Inc.'s cost of goods sold for the year is $1,900,000, and the average merchandise…

A: The question is related to Ratio Analysis. The details are  Average Inventory = $ 132000 Cost of…

Q: What is the company’s inventory turnover ratio

A: The method by which it is ascertained whether there exists an optimal level of inventory in the…

Q: Ivanhoe Corp. has total current assets of $6,608,000, current liabilities of $4,255,000, and a quick…

A: The assets that are liquidated and converted in cash within a time period of one year and less than…

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: Assume the following sales data for a company: Current year $1,025,000 Preceding year 820,000…

A: The goods and services produced are given to the customers in exchange for money which is termed as…

Q: Answer each of the questions in the following unrelated situations. (a) The current ratio of a…

A: As posted multiple independent questions we are answering only first answer kindly repost the…

Q: Morris Corporation has current liabilities of $800 million, and itscurrent ratio is 2.5. What is its…

A: Liquidity ratios are calculated to analyze the liquidity of the firm. There are various ratios which…

Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of…

A: The times interest earned ratio is calculated as EBIT or operating income divided by Interest…

Q: A firm has annual sales of $100 million, $20 million of inventory, and $30 millionof accounts…

A: Inventory Turnover Ratio (ITR) shows the number of times a company has used the inventory in the…

Q: Viper Construction’s days sales outstanding is 50 days (on a 365-day basis). The company’s accounts…

A: Inventory Turnover ratio is the ratio through which companies calculate its rate at which they…

Q: (b) A company had an average inventory last year of $209,000 and its inventory turnover was 6. If…

A: The current ratio, commonly referred to as the working capital ratio, assesses a company's capacity…

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: Libscomb Technologies' annual sales are $6,974,991 and all sales are made on credit, it purchases…

A: inventory turnover formula: inventory turnover =cogsinventory given, COGS = $3511,535 inventory =…

Q: For its most recent year a company had Sales (all on credit) of P830,000 and Cost of Goods Sold of…

A: Honor Code: Since you have posted a question with multiple sub-parts, we will solve only the first…

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: hat were JT's annual sales and DSO?

A: Information Provided: Quick ratio = 1.0 Current Ratio = 1.8 Inventory Turnover = 3.5 Total current…

Q: turnover

A: Formula to calculate the inventory turnover ratio is: Inventory turnover ratio = Cost of goods sold…

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: For the year, Simmons Incorporated reports net sales of $100,000, cost of goods sold of $80,000, and…

A: Gross profit:  Gross profit is calculated after deducting the costs associated with production of…

Q: For its most recent year, a company had Sales (all on credit) of $830,000 and a Cost of Goods Sold…

A: Given the following information: Credit sales: $830,000 Cost of goods sold: $525,000 Beginning…

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: Cito's Corp. has current assets of $4.5 million and current liabilities of $3.6 million. The current…

A: Financial ratios are those which provide a summary of the accounts of a company and helps an…

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: In 2021, Miralku Power Corp had sales of P200 million, and have 5.0 inventory turnover ratio. The…

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

Q: At the beginning of the year, ABC's Inventory balance was $91,000. During the year ABC bought…

A: The cost of goods sold can be calculated by adding up the net purchase and freight in and deducting…

Q: [EXCEL] Efficiency ratio: Bummel and Strand Corp. has a gross profit margin of 33.7 percent, sales…

A: The below expression can be used to calculate inventory turnover ratio:

Q: Anthony Corporation reported the following amounts for the year: Net sales 296,000   Cost of goods…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Cage Corporation has current liabilities of $510,000, a quick ratio of .93, inventory turnover of…

A: Given that Current ratio = 1.5 = Current Assets(CA)/Current Liabilities(CL) Current Assets = 1.5 *…