Answer:
Inventory turnover ratio = 7.2 times
Explanation:
Given:
Beginning inventory = $70,000
Ending inventory = $108,000
Cost of goods sold = $644,000
Sales = $888,000
Find:
Inventory turnover ratio
Computation:
Average inventory = [Beginning inventory + Ending inventory] / 2
Average inventory = ($70,000 + $108,000) / 2
Average inventory = $89,000
Inventory turnover ratio = Cost of goods sold / Average inventory
Inventory turnover ratio = $644,000 / $89,000
Inventory turnover ratio = 7.2 times
In decades past, the development and implementation of marketing strategy was about b.creating a large number of transactions in order to maximize a firm's market share.
<h3>What was the focus of marketing strategy in the past?</h3><h3 />
Companies wanted to increase the number of sales transactions they had as they believed it would lead to a higher market share.
These days however, companies try to retain their customers over the long term so they can have a sustainable revenue base.
Options for this question are:
a.aggressive selling in order to maximize sales volume.
b.creating a large number of transactions in order to maximize a firm's market share.
c.making products of moderate quality that could be sold at the lowest price possible.
d.conducting extensive research to discover customer needs.
Find out more on marketing strategies at brainly.com/question/25640993.
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Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
In the South American Andes, the altiplano between the Cordillera
Oriental and the Western Cordillera Occidental is widest in Bolivia. The
altiplano itself runs from the southern portion of Peru, extending
through Bolivia, and then ending in northern Argentina.
Answer:please refer to the explanation section
Explanation:
The question is incomplete, The amount that each firm must produce is not given or the Quantity/demand equation that each firm faces is not given. We use a firm's quantity/demand equation to calculate how much each firm should produce and then work out the number of firms that should exist in the industry.
let us assume quantity produced by each firm is given by this equation;
Q = 1900 + 15000Price
We need to plug the Price of $2.54 per unit Vitamin Bottle to the quantity equation. Q = 1900 + 15000(2.54) = 40 000
each firm must produce 40 000 units
Number of firms that should exist = Total Market Quantity/Firms Quantity Number of firms that should exist = 1055 560 000/40 000
Number of firms that should exist = 26389
When the price is $2.54, with each firm Producing 40000 units, 26389 firms should exist in the market to cover the total Market Quantity of 1055 560 000.
The question may provide you with the Quantity that each firm must produce, in that case you simple divide total market quantity by the firm's quantity to find number of firm that should exist.
When you are given quantity equations you use the price to work out quantity produced by each firm and then Divide the Market Quantity by Firm's quantity to find number of firms that should exist