The following data are available from the records of ABC Corporation.                                Annual sales   Ᵽ 396,000 Cost   70% Average inventory 50,000 Based on the above information determine the following: a) Number of days sales in average inventory b) Average inventory assuming that desired inventory turnover rate is 12x in one year.

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: What is the inventory conversion period for O'Brian's if it has sales of $320,000, an average…

A: The inventory conversion period is based on the concept of days of inventory take into sales. It can…

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.…

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

Q: DETERMINING INVENTORY MODELS FSYHILD is a manufacturing company of made to order face shield. It is…

A: Economic Order Quantity=2×Annual Demand×Ordering costs per orderHolding cost Reorder point=Average…

Q: EE Co has calculated the following in relation to its inventories. Buffer inventory level 50 units…

A: total inventory related cost will consist of purchase cost , ordering cost and carrying cost of…

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 company had an average inventory last year of $180,000 and its inventory turnover was 5. If sales…

A: Inventory Turnover Ratio: Inventory turnover refers to the pace at which inventory stock is sold,…

Q: Assume that gross profit averages 35% for BITCO.  If net sales are $1,500,000, beginning inventory…

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: What is the amount of gross sales for the current year? GREEN Enterprises reported the following…

A: Gross sales can be calculated by adding up sales returns and allowances to the net sales. Net sale…

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: A concrete corporation had cost of goods sold of $1,350,000 for the third quarter. The beginning…

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

Q: Vaughn Manufacturing had January 1 inventory of $300000 when it adopted dollar-value LIFO. During…

A: Dollar Value LIFO :           Inventory valuation is important for accurate cost of goods sold which…

Q: a. EFG reports annual sales of $ 30 million. Annual costs of goods sold is $ 15 million. Inventory…

A: Inventory refers to the goods or items which are stored by the business either for selling or for…

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: A company reports the following: Cost of goods sold $216,080 Average inventory 54,020 Determine (a)…

A: The inventory turnover ratio means how many times a company needs to replenish the average inventory…

Q: Suppose Maestro’s had cost of goods sold during the year of $230,000. Beginning merchandise…

A: Answer:

Q: Based on the following information, how many days of supply of inventory is the firm holding (assume…

A: Inventory turnover = Cost of goods sold / Average Inventory  = $6,050,000 / 2,900,000 = 2.09 times

Q: Suppose a company's cost of goods sold for years 2 and 3 were $283,310 and $299,390 respectively.…

A: Closing inventory is the inventory which is left and computed at the ending of an accounting period.…

Q: The annual inventory requirement at the C &E Enterprises is P2,500 units. Each inventory item has a…

A: The annual inventory requirement at the C &E Enterprises is P2,500 units. Each inventory item…

Q: The annual inventory requirement at the C &E Enterprises is P2,500 units. Each inventory item has a…

A: The annual inventory requirement at the C &E Enterprises is P2,500 units. Each inventory item…

Q: . Find the inventory turnover at retail of Walker Manufacturing. The starting inventory at retail…

A: inventory turnover ratio tell us how many times inventory has been utilized to convert into sales.

Q: The carrying cost curve and ordering cost curve of Bulldogs Inc.'s inventory intersect at 3,50…

A: the concept of economic order quantity for me is applicable where there is ideal order quantity. is…

Q: The following data are taken from the financial statements:   Current Year   Preceding Year Sales…

A: Inventory turnover = Cost of goods sold/Average inventory Days' sale in inventory = 365/Inventory…

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: A company reports the following: Cost of goods sold $478,150 Average inventory 95,630 Determine (a)…

A: Inventory Turnover ratio indicates how quickly Inventory convert into the sales.

Q: Endor Company begins the year with $90,000 of goods in inventory. At year-end, the amount in…

A: Inventory Turnover Choose Numerator:     /  Choose Denominator:    = Inventory Turnover Cost of…

Q: Assume that D = 5,000, k = $ 186, c = $ 15, and five setups (orders) are required per year. What is…

A: Economic order quantity is method of calculating ideal lot to order for inventory at a time to…

Q: Assume that gross profit averages 40% for RAMCO.  If sales are $1,600,000 and sales returns are…

A: Here, We need to calculate the estimated Cost of Goods sold using average Gross profit %. It can be…

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: The year-end financial statements of Collette Inc. reported the following information (in…

A: INTRODUCTION: Days inventory outstanding is the average number of days it takes for a company to…

Q: A firm uses an inventory item with the following characteristics. Cost per-item $ 6.00 Annual…

A: Answer -    Calculation of number of reorders to be made each year: EOQ=√2DO / C =√2(1,000)(30) /…

Q: The following data were collected for a retailer:Cost of goods sold $3,500,000Gross profit…

A:

Q: 21. Terry Company had January 1 inventory of $100,000 when it adopted dollar-value LIFO.During the…

A: Ending inventory has been computed as above:

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: ted that the next year's sales of the business will be TL 3,150,000. If the inventory turnover rate…

A: Given information :

Q: A company reports the following: Cost of goods sold $618,675 Average inventory 82,490 Determine (a)…

A: Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Q: Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices,…

A: LIFO Method is an inventory valuation method where inventory purchased last sold first. Whereas as…

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 shows how frequently a company's…

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: Charlie’s Cycles Inc. has $110 million in sales. The companyexpects that its sales will increase 5%…

A: The inventory turnover ratio is the ratio which shows the average number of times the average…

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…