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skad [1K]
3 years ago
11

Golf Inc. and Golfanatics Corp. are close competitors. Last year, both had the same level of cost of goods sold, but Golf Inc. t

urned its inventory over five times during the year, whereas Golfanatics turned its inventory over every 65 days. If the objective is to keep low inventory, which of the following is true?
a. Golf Inc., did a better job because its inventory turnover was lower
b. Golfanatics did a better job because its inventory turnover was higher
c. Golf Inc., did a better job because its day sales in inventory was lower
d. Golf Inc., did a better job because its level of inventory was lower was lower
Business
1 answer:
Gemiola [76]3 years ago
4 0

Answer:

b. Golfanatics did a better job because its inventory turnover was higher.

Explanation:

Inventory turnover is defined as the number of times a business sells off its inventory in a year. Businesses target higher inventory turnover as this implies that they are making more sales.

The inventory turnover of Golf Inc was 5 times in the year.

The inventory turnover of Golfanatics was every 65 days, so in a year turnover would have been= 365/65 = 5.615

So Golfanatics turned over their inventory more times (5.615 times) than did Golf Inc (5 times).

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3 years ago
Miltmar Corporation will pay a year-end dividend of $5, and dividends thereafter are expected to grow at the constant rate of 4%
morpeh [17]

Answer:

a. 10.04%

b. $82.78

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7 0
3 years ago
LO 6.3A company calculated the predetermined overhead based on an estimated overhead of $70,000, and the activity for the cost d
olya-2409 [2.1K]

Answer:

$68,600

Explanation:

An predetermined overhead of $70,000 was estimated for an activity of 2,500 hours. The actual overhead assigned to the products is given by multiplying the fraction of the total 2,500 hours of activity utilized by the products by the predetermined overhead:

A = \frac{1,350+1,100}{2,500}*\$70,000\\ A = \$68,600

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When reviewing the balance sheet for Portable Pet Care, Inc., a mobile small animal care business, Ricky noted the following inf
mash [69]

Answer:

The net worth (owners' equity) for this business is $2.2 million

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In this question, we use the accounting equation which is used to balance the debit and credit side of the balance sheet items.

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Total Assets = Total Liabilities + Owner's Equity

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And, liabilities is $1.3 million

Now, apply the above equation to find out the value of the owner's equity

So, owner equity would be equals to

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3 0
3 years ago
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