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LenaWriter [7]
3 years ago
5

A company reports the following: Cost of goods sold $660,000 Average inventory 60,000 Determine (a) the inventory turnover and (

b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.
Business
1 answer:
rusak2 [61]3 years ago
3 0

Answer:

the inventory turnover is 11

while the average days outstanding is 33 days

Explanation:

<u>inventory turnover:</u>

the amount of times the inventory rotetes (is being sold) during the period

\frac{COGS}{AVERAGE\: INVENTORY }

660,000/60,000 = 11

The company sold his invenotry 11 times

<u>days outstanding :</u>

time to sale the entire inventory

if it rotates 11 times per year and the year has 365 days then:

\frac{365}{inventory_{TO}}

365/11 = 33.18 = 33days

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Answer:

Cartels. Colluding. Price fixing.

Explanation:

  • Cartels are formed when a group of organizations from the same industry combine and decide jointly to keep the prices at higher levels in order to prevent competition
  • Colluding happens when organizations operate either unlawfully or secretly to gain advantage of the customer
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All the above three are keeping the customers at a disadvantage, hence is illegal and concerning to the govt. the most

6 0
3 years ago
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On September 1, 2020, Concord Corporation acquired Skysong Enterprises for a cash payment of $790,000. At the time of purchase,
sladkih [1.3K]

Answer:

$710,000

Explanation:

For computing the cost of the goodwill, first we have to calculate the fair value of the net asset which is shown below:

The fair value of net asset = The fair value of Skysongâs assets - the fair value of liabilities

= $890,000 - $180,000

= $710,000

And, the acquired value of Skysong Enterprises for cash is $790,000

So, the goodwill would be  

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5 0
3 years ago
The budget that estimates a firm's projected cash inflows and outflows, as well as cash shortages or surpluses during a given ti
lapo4ka [179]

Answer:

Cash budget

Explanation:

A budget is a financial plan that calculates a firm's expectations and uses that information to allocate the expectations to specific needs of the firm, to ensure its efficient and smooth running over a given period of time.

A cash budget as seen above is a type of budget that projects a firm's expectations cash-wise (inflwo and outflow), shortages and surpluses during a given period (say one year or two years, etc.).

Cheers.

7 0
3 years ago
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Answer:

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Additionally, I will also mention that The main difference between medicare advantage plan and Normal medicare is that normal medicare will include wide coverage provided by the government, but the quality of services provided for the medicare advantage plan will be better on average.

The pharmacy directory mentioned above can be used by Mrs. Patterson to choose the type of Specific health services that she wants, the type of specialists that she prefers and the location of treatment that is the most convenient to her. (this type of benefits wouldn't be found in normal plan)

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3 years ago
The following T-account is a summary of the Cash account of Cuellar Company.
Basile [38]

Answer:

D

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