1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ipatiy [6.2K]
3 years ago
7

A7X Corporation has ending inventory of $701,073 and cost of goods sold for the year just ended was $7,461,613. a. What is the i

nventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days’ sales in inventory? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long on average did a unit of inventory sit on the shelf before it was sold? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
tatyana61 [14]3 years ago
6 0

Answer:

(A) Inventory turnover= 10.64 times

(B) Days sales in inventory= 34.30 says

(C) Shelf life= 34.30 days

Explanation:

A7X corporation has an ending inventory of $701,073

The cost of goods sold for the year is $7,461,613

(A) The inventory turn over can be calculated as follows

= cost of goods sold/ending inventory

= 7,461,613/701,073

= 10.64 times

(B) The day sales in inventory can be calculated as follows

= 365/inventory turnover

= 365/10.64

= 34.30 days

(C) A unit of inventory sit on the shelf for 34.30 days before it is sold

You might be interested in
What's the main reason a person becomes a supervisor
andrezito [222]
They wanna be nosy and monitor everything you do
7 0
3 years ago
Read 2 more answers
Reba dixon is a fifth-grade schoolteacher who earned a salary of $38,000 in 2017. she is 45 years old and has been divorced for
dezoksy [38]
Explanation

a.

Alimony received: $1,200 per month × 12 months = $14,400

Gift from mother = $3,000 gift excluded from income

Disability insurance payments: $800 of $2,000 (40%) of payment excluded because taxpayer paid 40% of premium on insurance policy = $1,200

Moving expenses: $2,010 (for moving company) + $200 (for lodging) + $242 for mileage (1,426 miles × .17 cents per mile) = $2,452

Medical expenses: $6,445 − $6,385 [10% × (3)] = $60

Casualty loss deduction: $900 − $100 = $800 − $6,385 [10% × (3)] = $0

Personal and dependency exemptions: One personal and one for Heather. See Note A. below (2 × $4,050) = $8,100

Tax on taxable income: See head of household tax rate schedule; $1,335 + $4,955.70 [15% × ($46,388 − $13,350)] = $6,291

Note A. The first question we have to answer to determine Reba’s filing status is whether she can claim Heather as a dependent. If so, she may qualify for head of household filing status. If not, she will file a single taxpayer.

Does Heather qualify as Reba’s dependent? Yes, as analyzed below.

 

<span><span>TestIs Heather a qualifying child of Reba?</span><span>RelationshipYes, daughter</span><span>AgeYes, under age 24 and a full- time student (and younger than Reba).</span><span>ResidenceYes, Heather had the same principal residence as Reba for the entire year.</span><span>SupportYes. Heather did not provide more than half of her own support. Her scholarship does not count as support she provided for herself because she is Reba’s child.</span></span>

3 0
3 years ago
​________ is the extent to which a selection tool produces consistent results over time.
shusha [124]
This answer would be reliability.
6 0
3 years ago
Trevor Williams’ bank calculates interest daily. At an APR of 3%, how much simple interest does $2,000 earn in twelve days?
pishuonlain [190]
The answer is $1.97. 

6 0
3 years ago
Read 2 more answers
The government unit that wants to achieve "revenue enhancement" will find it considerably more favorable to enact an excise tax
boyakko [2]

Answer:

C. highly inelastic

Explanation:

An excise tax on a product will increase its price from the equilibrium point, to a higher point set by the government.

If the government was to enhance its revenue by this means, it should enact the excise tax on products that are highly inelastic.

This is because a highly inelastic product is one whose quantity demanded does not fall considerably even if the price rises a lot.

This means that even if the product is more expensive after the excise tax, consumer will continue to buy it, increasing government revenue in this way.

6 0
3 years ago
Other questions:
  • What should Susan's three main talking points be to convince her Mom that she should file her own tax
    10·1 answer
  • A state trial court held that raynes inc. violated its contract with cranwell management. raynes appealed the decision to the st
    6·1 answer
  • Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 13, 2017. It sells the wood to Buildit and
    5·1 answer
  • If real GDP per capita in the United States is currently $50,000 and grows at 2.5% per year, it will take approximately how many
    12·1 answer
  • Following is a recent BusinessSoftware Corp. press release: REDMOND, Wash.—March 16, 2016 — BusinessSoftware Corp. today announc
    8·1 answer
  • -Provide public goods
    13·2 answers
  • If the earnings per share of a company is $3.85 and the earnings yield is 2.5%, what is the price per sharE
    9·1 answer
  • MARKETING/BUSINESS helpppp
    14·1 answer
  • Which is not an advantage of a savings account?
    8·1 answer
  • To what degree a country's legal system is based on the rule of law matters little in international business.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!