Tidy Limited purchased a new van on January 1, 2018. The van cost $32,000. It has an estimated life of eight years and the estim
1 answer:
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1) let P represent Price, and since the dependency is linear, the supply equation will take the following form:
A) Y- =
⇒ Y - 1,000 =
⇒ Y - 1,000 =
⇒ Y =
⇒ Y = , therefore,
P =
B) When Y = 1,130, the price would be:
⇒P =
⇒ P =
Therefore:
P = $194
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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
Now inventory conversion period
Inventory conversion period will be 15.20 days