If prices are rising, which inventory cost flow method will produce the lowest amount of cost of goods sold?.

Thornton Universal Sales' cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 50% of its mon

mars1129 [50]

Answer:

Inventory conversion period will be 15.20 days

Explanation:

Cost of goods per month = $2000000

So cost of good for an year = 12 × $2000000 = $24000000

Now it is given that inventory is 50 5 of monthly COGS

So average inventory = 50 % of $2000000 = $1000000

Total days in an year = 365 days

So COGS per day $=\frac{24000000}{365}=$65753.4246$

Now inventory conversion period $=\frac{average\ inventory}{COGS\ per\ day}=\frac{1000000}{65753.4245}=15.20days$

Inventory conversion period will be 15.20 days

7 0

3 years ago

Which of the following is an example of financial intermediation? A. A saver makes a deposit in a credit union, and the credit

matrenka [14]

Answer:

A. A saver makes a deposit in a credit union, and the credit union makes a loan to a member for a new car.

Explanation:

A financial intermediation is when an institution acts as the joint-point between two parties in a financial transaction. This means, lender and borrowers, and buyer and seller.

The saver deposit in the credit union. (lender)

And the financial intermediate give a loan to a member (borrower)

This spread the risk and makes transaction more easy, as both parties deal with the credit union, not with themselves.

The credit union faces and assumes obligation with both:

for the saver to give the deposit

and with the borrower that if it meets the requirement will receive the cash for the car and will return in a pre-arrenged method with a given interest and time defined.

7 0

3 years ago

1. The 1924 name change from The Computing, Tabulating, and Recording Company to the International Business Machines was done in

Gennadij [26K]

Answer:

The correct answer that fills the gap is: A. business.

Explanation:

The legendary company in the IT sector, IBM, which created the PCs in 1981, was baptized no less than in 1924, although its history dates back to 1911. Its acronym means International Business Machines Corp.

IBM not only invented PCs, but the data storage itself. Also other tools very common today, such as ATMs.

Despite having been the company with the greatest historical losses in the United States (8 billion dollars, as announced in January 1993), in 2011 it continued to be the number 18 company in the United States and 31 globally, according to list published by Forbes. One of his favorite slogans is THINK.

5 0

3 years ago

Shown below are comparative balance sheets for Schmitt Company. SCHMITT COMPANY Comparative Balance Sheets December 31 Assets 20

UNO [17]

Answer:

Cash generated for the period: 70,840‬‬

Explanation:

Operating Income

Net income 143,220

Depreciation expense 52,360

adjusted net income 195.580

Change in working capital:

Accounts Receivable (18,480)

Inventory 33,880

Account Payable (6,160)

Total Change 9,240

Cash generated from operating income ‬204,820‬

Investing Activities

sale of land 30,800

purchase of equipment (92,400)

Cash used from investing income (61,600)

Financing Activities

issuance of stock 64,680

dividends paid (60,060)

redeem bonds (77, 000)

Cash used from financing income (72,380‬)

Cash generated for the period: 70,840‬‬

Beginning Cash 33,880

Ending Cash 104,720

4 0

3 years ago

HELP HELP HELPPPPP plz plz plz I have noooo idea

Agata [3.3K]

B i think hope this helps tell me if im wrong or right

5 0

3 years ago