The year 2 average days inventory outstanding is:

Q: ast year, Nikkola Company had net sales of P2,299,500, and cost of goods sold of P1,755,000. Nikkola…

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

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

A: Inventory turnover is the number of times inventory is sold and replaced back in a time period.…

Q: the following information appears in B corporation's records for the year ended December 31:…

A: Net sales = Sales - sales discount - sales return = $3,400,000 -  20,000 - 30,000 = $3,350,000 Cost…

Q: Gecelle Company reported during the current year beginning inventory P500,000, net…

A: Cost of goods sold = Sales - Gross profit =P3,200,000 - P3,200,000 x 25% = P2,400,000

Q: Siete Company provided the following data for the current year: Inventory, January 1: At cost P…

A: The theory of lesser of cost or net realizable value states that inventory must be recorded at the…

Q: Peter Company reported the following amounts for the year ended 31 December 2020: Inventory at 1…

A: 1) Depreciable base = $200,000 (Cost) - $10,000 (Residual Value) = $190,000 Life: 5 years…

Q: Fashion House uses a perpetual inventory system. At thebeginning of the year, inventory amounted to…

A:

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

A: Gross sales seem to be a term that measures a company's total revenues before deducting the costs of…

Q: Carla Vista Enterprises reported the following information for 2014: Beginning inventory   $ 37,760…

A: The question is based on the concept of Accounting Ratios.

Q: Brill Company reported the following year-end amounts: Beginning Inventory $7,650 Net Cost of…

A: Formula: Ending Inventory = Beginning Inventory + Net purchases - Cost of goods sold

Q: The following information is available for the Krypton Company for the three months ended June 31 of…

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

Q: The Northern Company installed a new inventory management system at the beginning of Year 1. Shown…

A: Inventory turnover = cost of goods sold / average inventory  Days sales in inventory = ending…

Q: niversal Sports Supply began the year with an inventory balance of $83,000 and a year-end balance of…

A: The inventory turnover ratio tells about the rate by which inventory is being used up or sold out.…

Q: The financial year of Mitex Co ended on 31 December 20X1. An inventory count on January 4 20X2 gave…

A: We have the following information: Total Inventory as on January 4 20X2: $527,300 Purchase of…

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

A: Inventory Turnover = Cost of Goods SoldAverage Inventory   Number of days' sales in Inventory =…

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: 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: CG Films generates cost of goods sold of $135,000 for the year. Inventory at the beginning and end…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS  correct answer is = (a). 3.1 working note: inventory…

Q: Sandhill Inc. reported inventory at the beginning of the current year of $440000 and at the end of…

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

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

A:

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: Universal Sports Supply began the year with an inventory balance of $72,000 and a year-end balance…

A: Inventory Turnover Ratio: The number of times that a firm has sold its inventory and then restocked…

Q: Princeton Corp. reported the following amounts on their financial statements for Year 1, Year 2, and…

A: Overstated: This term shall mean that the account balance of a particular item is recorded at a…

Q: The following information was available for Oriole Company at December 31, 2022: beginning inventory…

A: Compute the average inventory.

Q: Refer to the following selected financial information from Phantom Corp. Compute the company's days'…

A: Average inventory = (262500+280000)/2                                =  542500/2…

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

A: The closing stock is valued as above:

Q: Rams Inc reported the following amounts for the year: It uses periodic method Ending…

A: Cost of sales can be computed as follows, =Opening inventory level + Purchases made - Purchases…

Q: The Southern Company installed a new inventory management system at the beginning of Year 1. Shown…

A: Inventory Turnover=Cost of goods soldAverage value of Inventory Average Inventory= (Beginning…

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: ABC Company reported the following information with respect to cost of goods sold for the current…

A: Cost of Goods Sold: It refers to the direct production costs of the goods manufactured and sold by…

Q: Tarmac Co made sales of $1,930,200 during the year ended 31st March X3.  Inventory decreased by…

A: The cost of purchases indicates the total cost incurred like the cost of the item, transportation…

Q: On January 1, Pope Enterprises’ inventory was $625,000. Pope made $950,000 of net purchases during…

A: Cost of goods sold = Beginning Inventory + Purchases - Ending Inventory Ending Inventory = Beginning…

Q: Delta Apparel Inc. uses a perpetual inventory system. At the beginning of the year inventory…

A: The ending inventory is calculated as difference between total goods available for sale and cost of…

Q: Navajo Company's year-end financial statements show the following. The company recently discovered…

A: The ending inventory is calculated as : Beginning inventory + Purchases - COGS

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

A: In the context of the given question, we are required to compute the inventory turnover and the…

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

A:

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: 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: Selected financial information for Stuart Company for Year 4 follows: Sales $2,050,000 1,435,000…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

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

A: Here in this question, we are required to calculate the gross sales. Gross sales is a sales which is…

Q: The following data were taken from the financial records of Sunland Company. 2022 2021 Net Sales…

A: Average inventory = ( Opening inventory + Closing inventory ) ÷ 2                       Year 2021 =…