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Maslowich
3 years ago
12

Maple Leaf, Inc., a television manufacturer, would like to reduce its inventory. To this end, you are asked by the operations ma

nager to assess its inventory level. You have the following information on average inventories from last year's financial statement:
Raw materials $2,500,000
Work-in-process $1,000,000
Finished goods $800,000

In addition, the cost of goods sold last year (50 weeks) was $12 million. What was the inventory turnover?

a. Less than or equal to 2
b. Greater than 2 but less than 3
c. Greater than 3 but less than 4
d. Greater than 4
Business
1 answer:
irga5000 [103]3 years ago
3 0

Answer:

Maple Leaf, Inc.

Inventory Turnover:

b. Greater than 2 but less than 3

Explanation:

a) Data and Calculations:

1) Average inventories:

Raw materials     $2,500,000

Work-in-process  $1,000,000

Finished goods      $800,000

Total average inventory   $4,300,000

Cost of goods sold = $12,000,000

Inventory Turnover = Cost of goods sold/Average Inventory

= $12,000,000/$4,300,000

= 2.79 times

2) Inventory turnover is a financial ratio that shows the number of times in a year that inventory has been sold by Maple Leaf, Inc.  When it divides the number of days, say 360 days in a year, the ratio that comes out shows the number of days it takes Maple to sell its inventories.

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The correct answer is letter "C": The employee whose performance was appraised may develop a deflated ego.

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3 years ago
Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its aver
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Answer:

$12.45

Explanation:

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4 0
2 years ago
Processing a new employee's employment-related paperwork, acquiring necessary keys and identification cards, and establishing an
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Kelly sells women's accessories. Her prospective buyer is smiling and is eyeing the samples Kelly brought with her to the sales
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Pure monopoly refers to_____. rev: 05_15_2018 Multiple Choice
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