The following data were extracted from the income statement of Shriver Inc.:   Current Year Prior Year Sales $17,900,000   $18,100,000   Beginning inventories 760,000   700,000   Cost of merchandise sold 8,964,000   9,782,000   Ending inventories 900,000   760,000   a.  Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.   Current Year Prior Year Inventory turnover     Number of days' sales in inventory days days

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

A: Formula: Inventory turnover = Cost of Goods sold / average inventory. Average inventory = (…

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

A: Formulaes for calculation of inventory turnover ratio are given below   inventory turnover = cost…

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: Net sales are $80,000, cost of goods sold is $30,000, net income is $35,000, inventory is $15,000 at…

A: Inventory turnover ratio computes the number of days the company will take to sell the inventory in…

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

A: DIO( Days Inventory Outstanding)=(Avg Inventory/COGS)*No of days

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

A: Average Inventory = (Inventory, beginning of year + Inventory, end of year) / 2 Average Inventory =…

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: GREEN Enterprises reported the following information for the current year: Inventory, January 1 -…

A: solution given Inventory, January 1 - P2,300,000  Purchases - 27,105,000 Purchase returns and…

Q: A company reports the following: Cost of goods sold $262,800 Average inventory 52,560 Determine (a)…

A: Formula: Inventory turnover = Cost of goods sold / Average inventory

Q: Lewis Incorporated and Clark Enterprises report the following amounts for the year.       Lewis…

A: Average Days Inventory = Average InventoryCost of Goods soldx365

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: SCC Co. reported the following for the current year: net sales of $48,000; cost of goods sold of…

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: Formula: Inventory turnover = Cost of goods sold / Average inventory.

Q: A company reports the following: Cost of goods sold $585,825 Average inventory 78,110…

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

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

A: Answer:

Q: The following information relates to Musk Corporation: Inventory conversion period 15 days Average…

A: The inventory turnover ratio is used to compare the efficiency of inventories which are used for the…

Q: Inventory Analysis The following data were extracted from the income statement of Shriver Inc.:…

A: Formulae for day sale in inventory is given below =Average inventory/ cost of goods sold *365 days…

Q: Spree Company sold $769,300 of goods during the year at a cost of goods sold of $548,600. Inventory…

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

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: 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: 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: Inventory Analysis The following data were extracted from the income statement of Keever Inc.:…

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

Q: ng: Cost of goods sold $442,380 Average inventory 73,730 Determine (a) the inventory turnover

A: Given  A company reports the following: Cost of goods sold $442,380 Average inventory 73,730…

Q: Inventory Analysis A company reports the following: Cost of goods sold $249,660 Average…

A:

Q: Based on the following data for the current year, what is the inventory turnover? Net sales on…

A: Inventory turnover ratio is calculated as cost of goods sold divided by average inventory.

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

A: Given:

Q: what is the number of days' sales in inventory

A: number of days' sales in inventory =(Ending Inventory/Cost of Goods Sold )X 365 days

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: A company provided the following data: sales, $500,000; beginning inventory, $40,000; ending…

A:

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: During the year just ended, the retailer James Corporation purchased $450,000 of inventory. The…

A: Inventory turnover is calculated as cost of goods sold divided by average inventory.

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: 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: Inventory Analysis The following data were extracted from the income statement of Keever Inc.:…

A: Answer a 1) Calculation of Inventory turnover ratio for Current year Inventory Turnover Ratio = Cost…

Q: The following data were obtained from the records of Salacot Company: Current ratio (at year end)…

A: Inventory balance = Gross profit / (Difference between 2 inventory turnovers) Inventory balance =…

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

A: Days sales inventory  = Average inventory/Cost of Goods sold * 365

Q: The following data were extracted from the income statement of Keever Inc.:Current YearPrevious…

A: Inventory turnover:   Inventory turnover ratio is a measure of liquidity, which evaluate how…

Q: How do I complete the inventory analysis

A: Inventory turnover ratio measures the number of times a company has sold its inventory. The ratio…

Q: Use the following information to complete the calculations below. Cost of goods sold $195,640…

A: Inventory is one of the essential parts of an organisation. In the balance sheet, it is classified…

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

A: Answer) Calculation of Days’ Sales in Inventory Days’ Sales in Inventory = (Average Inventory/ Cost…

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: Presented below are selected data from the financial statements of Harper Company for the last tHP…

A: Inventory  turnover ratio = cost of goods sold/Average Inventory

Q: find the inventory turnover at cost.

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

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: 1. The following table contains data about the inventory for two items at Jones Corporation and the…

A: Formula: Days of Supply=Beginning Unit Inventory+Ending Unit Inventory2Unit Sales Per DayInventory…