Answer:
Inventory turnover ratio = 7.2 times
Explanation:
Given:
Beginning inventory = $70,000
Ending inventory = $108,000
Cost of goods sold = $644,000
Sales = $888,000
Find:
Inventory turnover ratio
Computation:
Average inventory = [Beginning inventory + Ending inventory] / 2
Average inventory = ($70,000 + $108,000) / 2
Average inventory = $89,000
Inventory turnover ratio = Cost of goods sold / Average inventory
Inventory turnover ratio = $644,000 / $89,000
Inventory turnover ratio = 7.2 times
Answer:
A small office is usually found in a small organisation because the volume of clerical activities is small. An example of a large office is a bank. A factory could also be an example of a large office if it has more than ten people working in it. In a large office, work is divided among the many clerical workers.
Well in order to run the business no matter which type it is there is a need for revenue, not profit, unless it is private. For public school revenue comes from the State and when a local shop sponsor.
Answer:
shifts in the demand curve
Explanation:
Aggregate demand is total value of goods and services demanded at a particular time in an economy. It indicate goods and services that will be bought at different prices.
The determinants of aggregate demand are factors that could cause shift in aggregate demand curve either to the left or right. A shift in aggregate demand curve to the right means an increase in quantity demand while a shift to the left means a decrease in quantity demand at every price level.
The determinants are ;
Price of the goods - An increase in price of the goods itself will bring about shift in the demand curve to the left and vice versa
Consumer expectations- When consumers expect price of goods to be high, demand curve would shift to the right and vice versa.
Price of related goods- An increase in price of related or complementary good would cause the demand to either shift to the left or right.
Income of the buyers - Increase in come of buyers would shift the demand curve to the right and vice versa.
Taste or preference of consumers- When consumer's preference shift in favour of a product, demand for such product would increase thus shifting the demand curve to the right.
