Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is P8,500, then what does that imply for the cost of goods sold during the year? (round to the nearest peso)

Q: Vaughn Manufacturing had January 1 inventory of $295000 when it adopted dollar-value LIFO. During…

A: Last-in-First-Out Method, or simply called as LIFO Method, is an inventory system in accounting…

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: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Inventory turnover ratio is a ratio which determines how efficiently and effectively the inventory…

Q: ​Elephant, Inc.'s cost of goods sold for the year is $ 2 comma 400 comma 000$2,400,000​, and the…

A: The correct answer is Option (B).

Q: 1. TAPULAN KO Company provided the following data for the current year: Inventory, January 1…

A: Cost of goods sold = Inventory, January 1 + Purchases - Purchase Returns and Allowances - Inventory,…

Q: Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is…

A: Average age of the inventory is described as the number of days the company requires to sell the…

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: . What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2…

A: Inventory Turnover: Inventory turnover refers to the number of times a firm is able to replace its…

Q: Tristan, Inc., uses the LIFO cost-flow assumption to value inventory. It began the current year with…

A: Cost of goods sold (LIFO) = 8000 units purchased for $40 per unit + 1500 units from beginning…

Q: I know that the number of days sales In inventory is the average inventory divided by the avg daily…

A: Inventory value is calculated as the total cost of your inventory at the end of each accounting…

Q: Caminas has the following products in inventory at the year end. Product Quantity Cost Selling…

A: We have the following information: Product : AQuantity: 1,000Cost: $40Selling Price: $55Selling…

Q: 7. Charles Inc. has an ending inventory of $423,425, and the cost of goods sold for the year just…

A: Solution:- Inventory Turnover ratio computes the pace at which the inventory is being used.

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: inventory

A: Introduction: Ending inventory for a company generally indicates the balance goods which are…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Days sales in inventory = 365/(cost of goods sold/Average inventory)  Average inventory = (Opening…

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: Allison Co. has a beginning inventory costing $90,000 and an ending inventory costing $120,000.…

A: Inventory Turnover Ratio = (Cost of merchandise Sold / Average Inventory)

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: If Carla Vista Department Store uses the gross profit method and net sales are $600,000, the gross…

A:

Q: Kingbird, Inc. had net credit sales of $9023000 and cost of goods sold of $5449000 for the year. The…

A: Average days in inventory depict the number of days for which a company holds its inventories before…

Q: Bobaflex Corporation has ending inventory of $527,156 and cost of goods sold for the year just ended…

A: Given information: Cost of goods sold for the year is $8,543,132 Ending inventory is amounted to…

Q: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: The question is related to Ratio Analysis. Inventory turnover is calculated with the help of…

Q: SHIN Industries uses the average cost approach to account for its inventory. For the current year,…

A: Average Cost Method: This approach allocates a cost to inventory items based on the overall cost of…

Q: Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is…

A: Inventory days is a concept in costing that shows how much time it takes the firm to sale its…

Q: Net sales $ 245,000   Cost of goods sold   176,000   Beginning inventory   54,000   Ending inventory…

A: Given information: Net sales is $245,000 Cost of goods sold is $176,000 Beginning inventory is…

Q: Oriole Company had January 1 inventory of $291000 when it adopted dollar-value LIFO. During the…

A: Gross Profit = Sales - Cost of goods sold   Cost of goods sold = Beginning inventory + Purchases -…

Q: BestSell Auctions carries an average inventory equal to $100,000. The company's cost of goods sold…

A: Given the following information: Average Inventory: $100,000 Cost of goods sold: $1,500,000

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: A company reports the following:   Cost of goods sold $3,960,250   Average inventory 255,500 Round…

A: Inventory Turnover = Cost of goods sold/ Average Inventory Number of days sales in Inventory =…

Q: Concord Corporation had January 1 inventory of $305000 when it adopted dollar-value LIFO. During the…

A: Gross profit measures the direct profit of the business. it is the difference between the net sales…

Q: The following is a chart of the inventory purchases in the last year Number of Units Unit Cost Sales…

A: Inventory Valuation Methods are methods of valuation of inventory. There are three methods of…

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

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

Q: The following data were extracted from the income statement of Brecca Systems Inc.: Current Year…

A: Given:

Q: PAKIALAMERA KO Company provided the following data for the current year: Inventory, January 1…

A: The cost of goods sold can be calculated by adding up net purchases and deducting ending inventory…

Q: Based on the following information compute (a) inventory turnover, (b) average daily cost of…

A: Inventory turnover ratio refers to number of times inventory is sold or used in a given period.

Q: The cost of goods sold for Veltron International last year amounted to $547,800, and the average…

A: Inventory turnover refers to the rate at which the inventory in the company is sold, used, and…

Q: Waterway Industries had January 1 inventory of $310000 when it adopted dollar-value LIFO. During the…

A: LIFO- It is a method of valuation of inventory which calculate the inventory cost on the basis of…

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: Himantayon Company provided the following information for the current year: Beginning inventory…

A: Gross purchase is the sum of the net purchase and purchase return. The net purchase can be…

Q: A wholesale company prices its inventory at $143,483. If the original price of the items was…

A: Transaction price = $143,483 Original price = $229,622

Q: ABC Company has average inventory of $45 000, cost of goods sold is $650 000. What is the inventory…

A: Given data; Average inventory = $45,000 Cost of goods sold = $ 650,000

Q: Sandhill Inc. reported inventory at the beginning of the current year of $320000 and at the end of…

A: Average inventory = (beginning inventory + ending inventory) /2 = (320000 + 371000) /2 = $345500

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: Botica Heaven has a total annual sale of PhP 40 M and is in operation with an inventory value of Php…

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

Q: AAA Hardware uses the LIFO method to value its inventory. Inventory at the beginning of the year…

A: FIFO: Under this inventory method, the units that are purchased first, are sold first. Thus, it…

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: Anthony Corporation reported the following amounts for the year:           Net sales $ 296,000…

A: Inventory turnover = Cost of goods sold / Average inventory = $138,000/50000 = 2.76

Q: find the inventory turnover at cost.

A: Inventory turnover calculates the number of times inventory can be converted into sales by company.…

Q: a. What is the inventory turnover?

A: Inventory Turnover is otherwise  called as stock turnover ratio. It is a measure which indicates…