1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tamiku [17]
3 years ago
10

The Green Fiddle has current liabilities of $28,000, sales of $156,900, and cost of goods sold of $62,400. The current ratio is

1.22 and the quick ratio is .71. How many days on average does it take to sell the inventory
Business
1 answer:
olya-2409 [2.1K]3 years ago
5 0

Answer: 83.53 days.

Explanation:

We would need to calculate the Current Assets as well as the Quick Assets.

Calculating the Current Assets we can use the Current ratio and Current Liabilities as follows,

Current Assets = Current Ratio * Current Liabilities

= 1.22 * 28,000

= $34,160

Then we calculate the Quick Assets which are essentially the most liquid assets being Cash and Cash Equivalents,

= Quick Ratio * Current Liabilities

= 0.71 * 28,000

= $19,880

Inventory will be Current Assets minus Quick Assets because Current Assets include all Current Assets whereas Quick Assets are Cash And Cash Equivalents Current Assets

= 34,160 - 19,880

= $14,280

We can then calculate the Inventory Turnover as,

= Cost of Goods sold / Inventory

= 62,400/14,280

= 4.36974789916 times.

Now we can finally calculate the days of Inventory by dividing the days in a year by the Turnover ratio. We will assume a 365 year.

= 365/4.36974789916

= 83.53 days.

It takes 83.53 days on average does it take to sell the inventory.

You might be interested in
A company bought a computer for$1,500. Three years later, the computer was sold for $300.
madam [21]

The accounts that will be used to record the disposal of the assets are Gain/loss on sale of asset and Sales Income

<h3>What is a disposal account?</h3>

A disposal account calculates the gain or loss account that appears in the income statement.

The disposal account records the difference between the disposal proceeds and the net carrying amount of the fixed asset being disposed of.

Hence, the account that will be used to record the disposal of the assets is Gain/loss on sale of asset and Sales Income

Read more about assets disposal

<em>brainly.com/question/1357713</em>

6 0
2 years ago
With the holiday season approaching, Denelle reviews holiday sales from the last five years to determine how much inventory to p
Westkost [7]

The information given shows that Denelle is conducting a trend analysis.

<h3>What is a trend analysis?</h3>

It should be noted that attend analysis simply means a technique that's used t predict future investment.

In this case, Denelle reviews holiday sales from the last five years to determine how much inventory to purchase and how many employees to schedule during peak sales times.

Learn more about trend analysis on:

brainly.com/question/25819900

#SPJ1

7 0
2 years ago
Your organization entered into an interoperability agreement (IA) with another organization a year ago. As a part of this agreem
Nata [24]

Answer:

1)Verify compliance with the IA documents

2) Conduct periodic vulnerability assessments

Explanation:

From the question we are given about instance, whereby Your organization entered into an interoperability agreement (IA) with another organization a year ago. As a part of this agreement, a federated trust was established between your domain and the partner domain. The partnership has been in the ongoing operations phase for almost nine months now. As a security administrator,. In this case, the tasks should you complete during this phase are;

1)Verify compliance with the IA documents

2) Conduct periodic vulnerability

An organisational interoperability agreement can be regarded as a resource which can be attributed to a private nature which give the structure of governance rules so that there will be a working relationship among

digital public services to have a functioning value.

7 0
3 years ago
One reason buy a home instead of rent a home is
xxTIMURxx [149]
<span>By renting a home instead of purchasing one, you are paying someone else's mortgage every month and getting nothing in return. While you are gaining a home to live in for the short term, in the long term you will gain nothing. When you purchase a home you will have a home that you own and that you cannot be evicted from as long as you pay your mortgage.</span>
4 0
3 years ago
Because of the pandemic, many people are looking for ways to be protected against the virus. One of those ways is using a disinf
MAVERICK [17]

Answer:

immediate suggestions, which can be added as online It's a fundamental part of our training were trying to sterilize their masks by spraying them with lysol spray!

5 0
3 years ago
Other questions:
  • Poppy co. uses a periodic inventory system. beginning inventory on january 1 was understated by $30,000, and its ending inventor
    9·1 answer
  • Total depreciation expense over an asset's useful life will be identical under all methods of
    10·1 answer
  • Micro Enterprises has the capacity to produce 10,000 widgets a month, and currently makes and sells 9,000 widgets a month. Widge
    12·1 answer
  • Employee a. who executes orders to buy and sell for clients of his or her brokerage firm. b. individual who trades on the floor
    6·1 answer
  • expecting a period of intense growth and has decided to retain more of its earnings to help finance that growth. As a result, it
    15·1 answer
  • Apply Six-Sigma quality standards and devise a plan for the hotel to monitor and control future process performance.
    14·1 answer
  • A software developer enters into a contract with a new customer to sell a software license and perform installation services. Th
    10·1 answer
  • A donor gave $75,000 to a nongovernmental, not-for-profit charity with instructions that the funds be transferred to Sam Smith,
    8·1 answer
  • Ray started out with one small print shop. His business has grown so much that he now has two other branches across town. Ray ha
    13·2 answers
  • Samples Corporation would like to use target costing for a new product it is considering introducing. At a selling price of $21
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!