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dolphi86 [110]
3 years ago
6

Industrialization Automation Company (IAC) has a quick ratio of 2.00; $24,750 in cash; $13,750 in accounts receivable; some inve

ntory; total current assets of $55,000; and total current liabilities of $19,250. In its most recent annual report, IAC reported annual sales of $100,000 and a cost of goods sold equal to 65% of annual sales. How many times is Industrialization Automation Company (IAC) selling and replacing its inventory?
A. 0.35x
B. 30.30x
C. 19.70x
D. 21.67x
Business
1 answer:
Goshia [24]3 years ago
7 0

Answer:

The answer is 3.94x. There is no choice given is the correct choice.

Explanation:

We have Inventory turnover time = Cost of goods sold / Inventory balance. Thus, we need to find Cost of good sold and inventory balance as below:

Inventory balance = Current asset - cash balance - account receivable balance = 55,000 - 24,750 - 13,750 = $16,500.

Cost of goods sold = Annual sales x % of cost of goods sold over sales = 100,000 x 65% = $65,000.

Inventory turnover time = Cost of goods sold / Inventory = 65,000 / 16,500 = 3.94x

The answer is 3.94x. Thus, there is no correct answer in the multiple choice given out.

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Answer:

The answer is option A)

In order to continue operating, in the long-run a firm must A) ​Charge a price equal to its AVC

Explanation:

In order to continue operating, in the long-run a firm must charge a price equal to its Average Variable cost AVC.

This is because, a long run is a period of time in which all factors of production and costs are variable.

Over the long run, a firm will search for the production technology that allows it to produce the desired level of output at the lowest cost. If a company is not producing at its lowest cost possible, it may lose market share to competitors that are able to produce and sell at minimum cost.

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3 years ago
In the ocean, the greatest amount of heat from incoming solar radiation would transfer to ___
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In the ocean, the greatest amount of heat from incoming solar radiation would transfer to the top 10 cm of the surface.

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The portion of the spectrum reaching the Earth from the Sun is between 100 nm and 1 mm. This band is divided into three regions: ultraviolet, visible, and infrared.

Radiation can alter the cardiovascular system, damage the heart, harden and constrict arteries, and remove some of the cells lining the blood vessels, causing cardiovascular disease. Radiation exposure can interfere with neurogenesis, the process of forming new cells in the brain.

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2 years ago
Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following b
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Answer:

Average receivables = $157,500,000

Explanation:

<em>Account receivable represent the amount of credit made by a business which remain uncollected as at the reporting date. In other words, they represent the amount that customers are owing the business in respect of credit sales.</em>

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The given statement exists true.

The diameter of the efferent arterioles in the glomerulus decreased while

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  • Urine output will decrease.
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<h3>What would happen if the diameter of the efferent arterioles in the glomerulus decreased?</h3>
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5 0
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"other things being​ equal, which market structure would produce the least output and the highest average product​ price
weqwewe [10]

Answer:

The answer is monopoly.

Explanation:

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