Wayne's Wells has sales for the year of P48,900 and an average inventory 21 of P8,800. The cost of goods sold id equal to 60 percent of sales and the profit margin is five percent. How many days on the average does it take the firm to sell an inventory item?

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

A: Given information  is: Maestro’s had cost of goods sold during the year of $230,000. Beginning…

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: 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: 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: 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: A company reports the following: Cost of goods sold $335,070 Average inventory 74,460 Determine (a)…

A: Inventory turnover ratio means the number of times a company turns its inventory into sales. The…

Q: The up towner has sales of $913,400 costs of goods sold of $579,300 inventory of $123,900 and…

A: days the firm takes to sell its inventory assuming that all sales are on credit = Inventory Days =…

Q: Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000.…

A: a) Working note:

Q: Industria del Norte has receivable accounts of $ 42,300, inventory of $ 61,200, sales of $ 544,200,…

A: The number of days to sell all inventory can be ascertained by using the days sales of inventory…

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: 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: Scribble, Inc. has sales of $94,000 and cost of goods sold of $78,000. The firm had a beginning…

A: Length of the days’ sales is the ration which shows the how much time firm takes to sell its…

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: 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: 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: Dabble, Inc. has sales of $980,000 and cost of goods sold of $640,000. The firm had an average…

A: The formula to compute days sales in inventory as follows:

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: Mario's Home Systems has sales of $2,830, costs of goods sold of $2,170, inventory of $506, and…

A: Given, sales of $2,830, costs of goods sold of $2,170, inventory of $506, and accounts receivable of…

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: What was Paloma Company's approximate inventory turnover ratio if the beginning inventory was…

A: gross profit = sales - the cost of goods sold   given that, sales = $60000 gross profit = $22000…

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: A company reports the following: Cost of goods sold $480,340 Average inventory 68,620 Determine (a)…

A:

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: If a firm's inventories on hand are $200,000, its cost of goods sold is $600,000, and its sales are…

A: Given data: Cost of goods sold = $600,000 Inventory = $200,000

Q: Sapphire Aerospace operates 52 weeks per year, and its costof goods sold last year was $6,500,000.…

A:

Q: A retailer has annual sales of $500,000 and an average finished-goods inventory of$15,000. If the…

A: Introduction: Inventory turnover ratio is defined as the number of times a business would sell or…

Q: Compute the average days in inventory rounded to the nearest whole day based on the following data:…

A: Meaning : Average days in inventory means the number of days a company keeps its inventory before it…

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: 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: Determine the stockturn rate of a retailer carrying an average inventory at cost of $850,000, with a…

A: Retailer need merchandise  to make sales . in fact , a retailer inventory is its biggest asset . net…

Q: Angel Department Store had net credit sales of P12,000,000 and cost of goods sold of P8,000,000 for…

A: Inventory turnover ratio is the number of times a company uses the investor available in a year, it…

Q: Blake distributors had a beginning inventory for June of 100,000. They purchased 25,000 in goods…

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

Q: Stoney Brooke, Inc. has sales of $890,000 and cost of goods sold of $640,000. The firm had a…

A: Given that,  sales = $890000 cost of goods sold =$ 640000 Beginning inventory =$ 36000 Ending…

Q: Blake Distributors had a beginning inventory for June of $100,000. They purchased $25,000 in goods…

A: Net sale is the amount of sales which has been earned by the company after deducting the sales…

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: Palmer Co. had cost of goods sold of $7,576, ending inventory of $2,270, and average inventory of…

A: Inventory turnover ratio = Cost of goods sold / Average stock Day sales in inventory = Ending…

Q: Dabble, Inc. has sales of $984,000 and cost of goods sold of $644,000. The firm had a beginning…

A: Day's Sales in Inventory = Ending Inventory / Cost of goods sold * 365 days

Q: Belt Company had net sales of $2,225,500,000 and cost of goods sold of $1,479,957,500. Belt had the…

A: We have the following information: Net sales: $$2,225,500,000 Cost of goods sold: $1,479,957,500…

Q: Tefft Industires has an average inventory of $170,000, sells on term of 2/10, net 30, and its cost…

A: Inventory conversion period is the number of days in which the inventory is stored before being sold

Q: Thornton Universal Sales' cost of goods sold (COGS) average $2,000,000 per month, and it keeps…

A: inventory conversion period can be calculated by dividing 365 by inventory turnover ratio.

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