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
HACTEHA [7]
3 years ago
13

A company reports the following: Cost of goods sold $435,000Average inventory 72,500 Determine (a) the inventory 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:
Andreyy893 years ago
4 0

Answer:

(a) 6

(b) 60.8 days

Explanation:

Given that,

Cost of goods sold = $435,000

Average inventory = 72,500

Therefore,

(a) Inventory turnover ratio:

= Cost of goods sold ÷ Average inventory

= $435,000 ÷ 72,500

= 6

Therefore, the inventory turnover ratio is 6.

(b) Number of days' sales in inventory:

= 365 days ÷ Inventory turnover ratio

= 365 days ÷ 6

= 60.8 days

Therefore, the number of days sales in inventory is 60.8 days.

You might be interested in
How do banks benefit of giving people loans
Kitty [74]

Answer: It all ties back to the fundamental way banks make money: Banks use depositors' money to make loans. The amount of interest the banks collect on the loans is greater than the amount of interest they pay to customers with savings accounts—and the difference is the banks' profit.

Explanation: Hopefully this helped!

5 0
3 years ago
Read 2 more answers
What is the return on common stockholdersâ equity based on the following: Beginning Common Stockholdersâ Equity: $10,317,000 End
Slav-nsk [51]

Answer:

13.28%

Explanation:

return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity

  • net income = $1,429,000
  • preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000
  • average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500

return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%

5 0
3 years ago
What is a benefit of online banking
liberstina [14]
A benefit of online banking is that you can check your account activity anywhere you're at and when ever you want with out having to go personally to the bank. online banking is available 24/7
<span />
3 0
3 years ago
Read 2 more answers
Tim, who works for Peachtree Realty, referred a buyer to a broker who works for Pinetop Realty. The referring agent is to receiv
IrinaK [193]

Answer:

$1,312.50

Explanation:

Calculation for How much was the referring agent paid

First step is to find the buyer agent amount by using the buyer's agent percentage to multiply the buyer purchased amount of the home

Using this formula

Buyer agent amount =Buyer's agent percentage× Home purchased amount

Let plug in the formula

Buyer agent amount=1.5%×$350,000

Buyer agent amount=$5,250

The last step is to find How much was the referring agent paid

Using this formula

Amount referring agent paid =Buyer agent amount× Percentage of buyer side commission

Let plug in the formula

Amount referring agent paid=$5,250×25%

Amount referring agent paid=$1,312.50

Therefore the amount that the referring agent paid will be $1,312.50

5 0
3 years ago
In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non-institutionalized p
tigry1 [53]

Answer: 59.27% and 4.77%.

Explanation:

Given that,

In the year 2009:

Japanese adult non-institutionalized population = 110.272 million

Labor force = 65.362 million

Number of people employed = 62.242 million

Japanese labor-force participation rate = \frac{Total\ labor\ force}{Total\ population}

                                                                  =\frac{65.362}{110.272}

                                                                  = 0.5927 or 59.27%

Unemployment rate = \frac{Total\ labor\ force - Number\ of\ people\ employed }{Total\ labor\ force}\times100

                               = \frac{65.362 - 62.242}{65.362}\times100

                               = 4.77%

7 0
2 years ago
Other questions:
  • And currency risks are to key country success factors as land costs and​ ________ are to key region success factors.
    11·1 answer
  • . Janet, the manager of HollyOak Systems, is known for her passionate and people-friendly ways. Janet knows all her employees we
    6·1 answer
  • Which of the following is a guideline for managers to evaluate employees?
    15·1 answer
  • Included in Vernon Corp.'s liability account balances at December 31, 2017, were the following: 7% note payable issued October 1
    7·1 answer
  • A group of businesspeople meet in order to solve the problem of decreased sales of their company's products. One of them suggest
    7·1 answer
  • Which of the following is performed by enterprise application integration?
    6·1 answer
  • Brenda is an interior designer. Before buying products for interior furnishing, she gathers information about the products manuf
    14·1 answer
  • The Super Widget Corporation has 20,000 shares of stock outstanding. A. If it declares dividends of $42,500, what is the dividen
    15·1 answer
  • When purchasing a vehicle which of the following would initially offer the lowest monthly payment
    14·2 answers
  • Example of globalization as internalization and liberalization
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!