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Aleksandr-060686 [28]
3 years ago
10

For the year ended December 31, Depot Max's cost of merchandise sold was $56,900. Inventory at the beginning of the year was $6,

540. Ending inventory was $7,250. Depot Max's number of days' sales in inventory is closest to
a. 42
b. 46
c. 8
d. 44
Business
1 answer:
neonofarm [45]3 years ago
3 0

Answer:

option (b) 46

Explanation:

Data provided in the question:

Max's cost of merchandise sold = $56,900

Inventory at the beginning of the year = $6,540

Ending inventory = $7,250

Now,

Depot Max's number of days' sales in inventory

= \frac{\textup{Ending inventory}}{\textup{Max's cost of merchandise sold}}\times360

or

= \frac{\$7,250}{\$56,900}\times360

or

= 45.86 ≈ 46

Hence,

Depot Max's number of days' sales in inventory is closest to option (b) 46

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During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel
liberstina [14]

Calculation of Cost of Sales for Mattel for the year 2016:


It is given that Mattel had sales of $5,456,650, and gross profit of $5,456,650for the year 2016. The cost of sales can be calculated with the help of following formula:

Cost of Sales = Sales – Gross Profit

Cost of Sales = 5,456,650-5,456,650

Cost of Sales = 2,902,259


Hence the Cost of Sales is 2,902,259 ($ in thousands).





4 0
3 years ago
Which statements about Section 1231 assets are true? Pick all that apply!!
dem82 [27]

Answer:

The answer is below

Explanation:

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Hence, in this case, the correct answer or statement to the question are:

1. If Section 1231 assets are sold and the taxpayer has a realized loss, the loss is a fully deductible ordinary loss

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4 0
2 years ago
For many in the baby-boom generation, the kennedy assassination represents a ________, an exceptionally clear recollection of an
earnstyle [38]
For many in the baby boom generation, ......................................... represents a FLASHBULB MEMORY, an .......................... event.
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4 0
2 years ago
Available"" (as in ""measurable and available"") means 1. Available to finance expenditures of the current period 2. Subject to
MAVERICK [17]

Answer:

1. Available to finance expenditure of the current period

Explanation:

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4 0
3 years ago
You have just won the lottery and will receive $530,000 in one year. You will receive payments for 25 years, and the payments wi
polet [3.4K]

Answer:

Present value= $3,642,651.54

Explanation:

Giving the following information:

You have just won the lottery and will receive $530,000 in one year. You will receive payments for 25 years, and the payments will increase by 4 percent per year. The appropriate discount rate is 10 percent.

First, we need to calculate the final value using the following formula:

FV= {A*[(1+i)^n-1]}/i

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n= 25

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Now, we can calculate the present value:

PV= FV/(1+i)^n

PV= 96,391,538.43/ (1.14^25)

PV= $3,642,651.54

7 0
3 years ago
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