Answer:
the information is missing, so I looked for a similar question and found the attached image:
a) days inventory on hand = (average inventory / cost of goods sold) x 365 = ($14,000 / $120,000) x 365 = 42.58 days
b) inventory turnover ratio = cost of goods sold / average inventory = $120,000 / $14,000 = 8.57
I agree with Mr. David because the inventory turnover ratio of Golden Cup is already higher than the industry's average. That means that Golden Cup's current inventory level is appropriate and increasing it would only result in higher costs but would have very little influence on the company's sales.
Answer:
equivalent units for direct materials = 66,770 liters
Explanation:
beginning work in process = 3,640 liters, % of materials added = 0%
units completed during the period = 64,510 liters, % of materials added = 100%
ending work in process = 5,900 liters, % of materials added = 100%
equivalent units = units completed during the period - beginning work in process + ending work in process = 64,510 - 3,640 + 5,900 = 66,770 liters
Answer:
the ending cash balance is $330,300
Explanation:
The computation of the ending cash balance is shown below:
Ending cash balance = Opening cash balance + Profit
= $270,000 + (9% × $670,000)
= $270,000 + $60,300
= $330,300
We simply added the opening cash balance and the profit so that the ending cash balance could come
Hence, the ending cash balance is $330,300
Answer:
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