Sales are $110,000. Purchases are $80,000. Opening inventory is $12,000. Closing inventory is $10,000. The rate of inventory turnover is

Q: During September, Khan had sales of 148,000, which made a gross profit of 40,000. Purchases amounted…

A: Sales = 148000 Gross profit = 40000 Purchase = 100,000 Opening inventory = 34000

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: If beginning inventory is 40 units at $4 per unit, purchases are 20 units at $8 per unit and 10…

A: Inventory valuation is based on the flow of inventory and the FIFO method says that the firm should…

Q: A company has sales of $1,200,000. COGS is $900,000. Average inventory is $200,000. What is the…

A: An evaluation method that provides information regarding the number of days inventory held in the…

Q: The following information is available: Cost of goods sold $1,000,000 Sales $500,000 Sales…

A: Ending Inventory = Cost of Goods Sold + Gross profit - Net Sales   Note : Net Sales = Sales - Sales…

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: Annanina Company reported the following information for the current year:   Beginning inventory…

A: Cost of goods available for sale is calculated by adding the cost of purchases with the beginning…

Q: Presented below is information related to Aaron Rodgers Corporation for the current year.…

A: a. Cost of Goods sold = Sales revenue - Sales revenue x gross profit ratio…

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: 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: INVENTORY. On January 1, 20X6, the River Company's beginning inventory $400,000. During 20X6, River…

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

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: The 200X records of Thompson Company showed a beginning inventory of $6,000, cost of goods sold of…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: At the end of the year, Nancy Company had $55,000 of inventory on hand. While the perpetual records…

A: At the end of each accounting period, inventory accounts are reconciled with physical inventory in…

Q: A company has beginning inventory for the year of $15,000. During the year, the company purchases…

A: The cost of goods sold is the cost incurred on the goods that are sold during the period.

Q: A business has the following trading account for the year ending 31 May 20X8: $ $ Sales turnover…

A: We have the following information: Sales turnover: $45,000 Opening Inventory: $4,000 Purchases:…

Q: Sugar, Incorporated sells $938,600 of goods during the year that have a cost of $797,200. Inventory…

A: Inventory turnover ratio is an efficiency ratio that measure how fast an entity is able to sell its…

Q: The days' sale in inventory is 73. The cost of goods sold is 720,000. The net sales are 1,020,000,…

A:

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: On January 1, Veltron International has inventory worth $599,900 at cost. At the end of the year,…

A: Inventory turnover: Inventory turnover is the quantitative tool that tells the number of times a…

Q: Blue Company has the following data for the year: $140,000 Beginning inventory Net sales revenue…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is…

Q: What is the inventory turnover if COGS is $10,000, beginning inventory was 200, and ending inventory…

A: Inventory Turnover:This is a financial metric used to quantify the number of times inventory is used…

Q: The ending inventory is?

A: Cost of Goods Sold: Cost of Goods sold is the Cost of the items that are sold it is calculated for…

Q: A company’s beginning inventory is $150,000, its net purchases are $230,000, and its netsales total…

A: Gross profit method: It refers to a method that allows the business in estimating the value of the…

Q: The home office ships merchandise to the branch at 25 percent above cost. If the balance before…

A: In case of Branch Accounting , when goods are transferred from head office to branch at sales price…

Q: Your company sells $469,300 of goods during the year that have a cost of $398.600. Inventory was…

A: Inventory turnover ratio is a form of efficiency ratio, which shows how many times inventory is…

Q: The King Corporation has ending inventory of $386,735, and cost of goods sold for the year just…

A: Calculate the inventory turnover as follows:

Q: If firm’s beginning inventory is $70,000, purchases are $320,000, and the cost of good sold is…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is also…

Q: A Co had sales of $220,000 and purchases of$160,000, together with opening inventory and closing…

A: We have the following information: Sales: $220,000 Purchases: $160,000 Opening Inventory: $24,000…

Q: A retailer’s total sales are $1,000,000 and the gross margin percentage is 60%. Thebeginning and…

A: Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,…

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: On December 31st, Datton, Inc. has cost of goods sold of $540,000. ending inventory is $100,000,…

A: Accounts payable turnover is the ratio which is used to measure the rate at which the entity is…

Q: Sales revenue are $110,000. Purchases are $80,000. Beginning balance of inventories are $12,000.…

A: Inventory days using average inventories are 48.96 days Refer step 2 for explanation

Q: Ajay’s annual inventory count took place on 7 July 20X6. The inventory value on this date was…

A: We have the following information: Inventory value on 7th July 20X6: $38,950 Sales: $6,500…

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: Big Basket has an opening inventory of Rs. 30 million. It shows closing inventory at the end of the…

A: The formula for determining the cost of sales (COS), the purchases which firm made are required to…

Q: The company has beginning inventory for the year of $24,000, during the year cost of goods sold was…

A: The cost of goods sold refers to costs that are specifically allocated to the goods sold. Cost of…

Q: During September, Aparna had sales of 148,000, which made a gross profit of 40,000. Purchases…

A: Solution..   Sales = Rs148,000 Gross profit = Rs40,000  Purchase = Rs100,000  Opening inventory =…

Q: Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet…

A: Inventory Turnover is calculated to measure the level of inventory hold by the firm compared to…

Q: The company has beginning inventory for the year of $50,000, during the year cost of goods sold was…

A: Solution..     Cost of goods sold = $725,000  Beginning inventory = $50,000  Ending inventory =…

Q: Inventory Turnover Ratio                                               6 Times Creditors Turnover…

A: Inventory turnover ratio: =Cost of goods sold  / average inventory Purchases: = Cost of goods sold +…

Q: Epsilon Corp. reported the following information for the current year: Beginning inventory..…

A: Working note: Computation of cost of inventory out on consignment: Inventory out on…

Q: Lux had net purchases of $50,000, ending inventory of $25,000, net sales of $100,000, and gross…

A: Formula used: Cost of goods sold = Beginning inventory + Net purchases - Ending inventory.

Q: Ajay's annual inventory count took place on 7 July 20X6. The inventory value on this date was…

A: Given Inventory ending balance, purchases and sales. We need to Find Inventory balance in beginning.