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belka [17]
3 years ago
11

Financial statement data at December 31 for Ecco Company are shown below. Cost of merchandise sold $552,500 Inventories: Beginni

ng of year 200,000 End of year 140,000 Determine inventory turnover for the year. a.1.63 b.2.76 c.3.95 d.3.25
Business
1 answer:
Lostsunrise [7]3 years ago
3 0

Answer:

Inventory turnover= 3.25

Explanation:

Giving the following information:

Cost of merchandise sold $552,500

Inventories:

Beginning of year 200,000

End of year 140,000

<u>To calculate the inventory turnover, we need to use the following formula:</u>

Inventory turnover= Cost of goods sold/ average inventory

Average inventory= (beginning inventory + ending inventory) / 2

Average inventory= (200,000 + 140,000)/2= 170,000

Inventory turnover= 552,500/170,000

Inventory turnover= 3.25

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Jerome's Italian Pizza is in a very competitive industry, and its upper management believes that it can achieve higher profits b
Troyanec [42]

Answer:

That statement is true

Explanation:

Strategic goal is the type of goal that is carefully designed to accomplish a business strategy, This type of goals need to express the desired outcome that wanted be achieved and listed a specific set of actions that can make the company achieve that outcome. Strategic goal commonly created when a company want a more concrete way to measure its success compared to other competitors.

This can be seen in Jerome's italian pizza.

"Increase profits by 15% a year for each of the next five years" is  what considered to be the desired outcome.

lowering costs and prices, providing quicker delivery, and providing good customer service are the Sets of action that the company intended to take.

3 0
3 years ago
A product has a contribution margin of $2.50 per unit and a selling price of $25 per unit. Fixed costs are $20,000. Assuming new
Evgesh-ka [11]

Answer:

A. 9,000 units

Explanation:

The formula to compute the break even point is shown below:

= (Fixed cost) ÷ (Contribution margin per unit)  

where,  

New Fixed costs = $20,000 + $13,750 = $33,750

And, the contribution margin per unit would be

= $2.50 + $2.50 × 50%

= $2.50 + $1.25

= $3.75

Now put these values to the above formula

So, the units would be equal to

= $33,750 ÷ $3.75

= 9,000 units

7 0
3 years ago
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this
AlexFokin [52]

Answer:

Please see attachment

Explanation:

Please see attachment

8 0
3 years ago
A marketing specialist needed to find a new way of marketing the company's main product to its potential clients. While watching
fenix001 [56]

According to the creative process model, <u>verification</u> is the next stage in the creative process after such inspiration.

<u>Option: C</u>

<u>Explanation:</u>

The creative process can be split into four phases: planning, incubation, enlightenment and verification. During the first level, data is collected from your brain. After all, new ideas aren't coming out of a vacuum. You let your mind wander in the second level, and spread your thoughts.

You'll make links between thoughts in the third level. In the fourth level, critical thought needs to refine new ideas in order to address their target convincingly.  Such creative method offers the complete technique to give birth to new ideas from just a hint.

8 0
3 years ago
Jacobs Company had inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.
Volgvan
The answer is c. $210
8 0
2 years ago
Read 2 more answers
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