I NEED HELP PLEASE HELP!!!!

Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000. The firm carries eight items

OLEGan [10]

a. The average aggregate inventory value is $336,000.

b. The number of weeks of supply that the firm has is 3 weeks, approximately (2.69 ($336,000/$6,500,000 x 52).

c. The inventory turnover of Sapphire Aerospace for last year was 19.3x.

Question Completion:

Category Part Number Average Value Total Category

Inventory Units per Unit Value Totals

Raw Materials RM-1 20,000 $1 $20,000

Materials RM-2 5,000 5 25,000

RM-3 3,000 6 18,000

RM-4 1,000 8 8,000 $71,000

Work-in-process WIP-1 6,000 10 60,000

WIP-2 8,000 12 96,000 $156,000

Finished goods FG-1 1,000 65 65,000

FG-2 500 88 44,000 $109,000

Total value of inventory $336,000 $336,000

Inventory turnover = Cost of goods sold/Average inventory

= 19.3x ($6,500,000/$336,000)

Thus, the average inventory value is $336,000, while the inventory turnover was 19.3x.

Learn more about inventory turnover here: brainly.com/question/5701250

3 0

3 years ago

To be recorded as a liability, an item must meet three specific conditions. Two of them are: it must involve probable future sac

natima [27]

Answer:

It must involve the transfer of resources to another entity.

Explanation:

A liability is defined as an obligation of future outflow of economic benefits that arise as a result of past actions either through sales , exchange of assets or services , or any other business related events.

Before a liability can be recognized , it must satisfy these three conditions

It must involve probable outflow of economic resources
A present obligation that arose as a result of past transactions
It must involve a transfer of resources to another entity

5 0

3 years ago

Which of the following is true of financial accounting? It is primarily concerned with producing information for internal users.

balandron [24]

Answer: It focuses on overall firm performance, providing a more aggregated viewpoint.

Explanation:

Financial accounting can be referred to as a specialized arm of accounting which keeps record of an organization's financial transactions. It tends to use standardized guidelines under which transactions are recorded, stated, summarized, and thus presented in a financial report or statement i.e. an income statement, balance sheet etc.

3 0

3 years ago

Which of the following would be reported on a statement of cash flows as a financing activity?

vladimir1956 [14]

Answer:

C. Purchase of treasury stock

Explanation:

The purchase of treasury stock results in a change in the stockholder's equity and as such is recognized as a financing activity in the statement of cash flows.

For the other options, amortization expense is a non-cash item and is adjusted for in the net cash flows from operating activities.

Collection of notes receivable is a change in current assets hence it is reported under net cash flows from operating activities.

Sale of equipment is reported under net cash flows from investing activities.

Hence the right option is C. Purchase of treasury stock.

4 0

4 years ago

Which of the following actions is likely to have the lowest initial cost in terms of its impact on other parts of the organizati

klemol [59]

Answer:

Option 2, laying off some workforce will have the lowest initial cost.

Explanation:

In option 1 if an organization is going to replace existing equipment with the new machines there is a definitely high cost involved in it because we do know that modern and newer machines costs more.

In option 3, if we go for lower-grade quality, we may face lost sales, or sales return which will add up to our cost.

However, if we go for option 2. there is no upfront cost involved in this decision but rather our cost is saved.

Thus the organization must opt for the 2nd option in order to find the lowest initial cost.

3 0

3 years ago