The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Question

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Answer 1

Question

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

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Answer 2

Question

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

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Answer 3

Question

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

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Answer 4

Question

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

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Answer 5

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Answer 6

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Answer 7

Chapter 16.III, Problem 14RE

(a)

To determine

To calculate: The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Answer 8

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Answer 9

(b)

To determine

To calculate: The target average inventory if the turnover rate is less then published turnover rate for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Answer 10

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Answer 11

Expert Solution & Answer

Answer 12

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Answer 13

Ch. 16.I - You are the merchandise manager at Best Buy. The...Ch. 16.I - Prob. 2TIE Ch. 16.I - Prob. 3TIE Ch. 16.I - Prob. 4TIE Ch. 16.I - Prob. 1RE Ch. 16.I - Prob. 2RE Ch. 16.I - 3. Calculate the total number of units available...Ch. 16.I - When the merchandise manager of Advance Auto Parts...Ch. 16.I - Prob. 5RE Ch. 16.I - The following data represent the inventory figures...

The average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of $1,250,000 and beginning and ending inventory at cost are provided as $135,000 and $190,900 respectively and the published inventory turnover rate is provided as 9.5 times.

Solution Summary: The author calculates the average inventory and actual inventory turnover and round off to nearest tenth for Kwik Mix which had cost of goods sold of 1,250,000.

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