1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zubka84 [21]
3 years ago
11

Inventory Analysis A company reports the following: Cost of goods sold $347,480 Average inventory 86,870 Determine (a) the inven

tory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.
Business
1 answer:
stiks02 [169]3 years ago
5 0

Answer:

a. 4

b. 91.25 Days

Explanation:

a. Inventory Turnover = Cost of goods sold/ Average Inventory

= $347,480 / 86,870

= 4

b. Number of days sales in Inventory = Inventory/ COGS*365

= 86,870 / $347,480 * 365

= 91.25 Days

You might be interested in
What two conditions must hold for a competitive market to produce efficient outcomes? Group of answer choices Firms must maximiz
faltersainse [42]

Answer:

The answer is: Supply curves must reflect all costs of production, and demand curves must reflect consumers´ full willingness to pay.

Explanation:

The characteristics of a competitive market are:

  • Many buyers and sellers
  • Companies make a similar product.
  • Both buyers and sellers have access to perfect information about price.
  • No transaction costs.
  • No barriers to entry into or exit from the market.

Theoretically if all of the above conditions occur, profit maximizing companies will combine with utility maximizing consumers, and markets will tend to produce efficient outcomes.

6 0
3 years ago
By what date must taxes be filed in the united states?
sdas [7]

Answer:

april 15

Explanation:

its a direct question the isnt an explanation

3 0
2 years ago
Your seller wants to net $100,000 after the 5ommission is paid. assuming no closing costs, at what price does the home need to s
Murljashka [212]

$105,263.16

The seller's percentage of a sale is 100% - 5% commission = 95% (or .95). Take the amount the seller wants to net and divide it by that amount ($100,000 ÷ .95 = $105,263.16). Conversely, for a sales price of $105,263.16: $105,263.16 × .95 = $100,000.

the sales price is the discounted price at which goods or services are sold. This price is typically offered for a limited time and is typically used to promote sales during a recession or sell excess inventory. Discounts are advertised as a percentage of the regular list price.

Although the two are interchangeable, the sale price is usually used when the sale results in a lower than normal price for an item. Discounted prices on items compared to regular retail prices. According to the Business Dictionary, selling price is an "alternative term for price."

Learn more about sales price here: brainly.com/question/7459025

#SPJ4

4 0
2 years ago
Tickets to a concert are $35 each. In addition to the cost for the tickets ordered, there is a $15 processing charge per order.
Vesnalui [34]

Answer:

Explanation:

Let the cost of an order = C

Let the number of tickets inside that order = n

Let there be a 15 dollar service charge per order.

================

C = 35*n + 15

5 0
3 years ago
On January 1, 2019, Oriole Company purchased the following two machines for use in its production process.
Zarrin [17]

Answer and Explanation:

The journal entries are shown below:

1  Equipment   $53,420

     To Cash  $53,420

(Being the equipment is purchased for cash is recorded)

The computation is given below:

= Cash price of machine + sales tax + shipping cost + insurance during shipping + installation and testing cost

= $49,500 + $3,650 + $100 + $60 + $110

=  $53,420

2. Depreciation expense $9,614

      To Accumulated Depreciation - Equipment  $9,614

(Being the depreciation expense is recorded)

The computation is shown below:

= ($53,420 - $5,350) ÷ ( 5 years)

= $9,614

5 0
3 years ago
Other questions:
  • Assume that you have just purchased some shares in an investment company reporting $500 million in assets, $50 million in liabil
    10·1 answer
  • Those who died without a valid will are said to have died testate.<br><br> True or False
    7·2 answers
  • The Modigliani and Miller hypothesis suggests that capital structure doesn't matter. All of the following conditions need to be
    8·1 answer
  • At Nice Price for the Ice, an ice cream parlor, customers routinely buy a scoop of ice cream for $2.75. If consumers purchase on
    8·1 answer
  • In the 1970’s the Ford Motor Company sold its subcompact Pinto model with known design defects. In particular, the gas tank’s de
    8·1 answer
  • Two mutually exclusive alternatives are being considered.
    15·1 answer
  • The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and
    14·1 answer
  • The normal distribution is an appropriate model​ of: A. system reliability where components are connected in parallel. B. the fu
    11·1 answer
  • What is the best hot water system to buy in Canberra?
    7·1 answer
  • Some states charge a recycling or disposal fee on certain electronic items, including computers. assume you live in one of these
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!