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
galina1969 [7]
3 years ago
15

The following information was taken from Baxter Department Store's financial statements:

Business
1 answer:
vodka [1.7K]3 years ago
7 0

Answer:

500,000÷  200,000 = 2.5

Explanation:

inventory turnover is calculated as

cost of goods sold ÷ Average inventory

From the information of Baxter department store's financial statement, cost of goods sold can be calculated as

Opening inventory + purchases - closing inventory  

100,000 + 700,000 - 300,000 = 500,000

cost of goods sold = 500,000

Average stock is calculated as opening inventory + closing inventory ÷ 2

100,000 + 300,000 ÷ 2 = 200,000  

Average inventory = 200,000

Therefore inventory turnover = 500,000÷  200,000 = 2.5

You might be interested in
In Da Houz is a bar which mostly plays trance music, and has a dedicated day every week for local bands to perform. In Da Houz t
Dmitry_Shevchenko [17]

Answer:

Direct marketing            

Explanation:

In simple words, Direct marketing relates to the means of selling an deal, where companies specifically interact with a pre-selected client and provide a mechanism for veiled reference. It has also been recognized as direct reaction marketing amongst practitioners.

The least likely to be successful is indeed a direct marketing message that is sent to the largest possible public. After all, while simply irritating several other beneficiaries, the business can gain few more consumers.

5 0
3 years ago
George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a p
max2010maxim [7]

Answer:

Promissory estoppel

Explanation:

Promissory estoppel means that in legal tenet that a promise or pledge can be enforced by law, actually if formulated without legal consideration, if the George now the (promisor) has made a pledge to a Susy the (promises) who then depends on that promise for a subsequent detriment. So what Promissory estoppel is expected to do is to stop the (George) promisor from insisting that an underlying promise should not be legally authorized or implemented. So Susy can sue George on the basis of promissory estoppel and get a reward for George's disappointment

8 0
3 years ago
A) You observe the following exchange rates in the market.
blagie [28]

Answer: i. €0.11

ii. €1.08

Explanation:

i. If we get 1 krona for every $0.13 then how many krona do we get per dollar?

= 1/0.13

= 7.69 Krona is to $1

If $1 is 7.69 Krona and $1 is also €0.85 then that means that,

€ 0.85 = 7.69 Krona

So for each Krona exchanged, we get how many Euro,

= 0.85/7.69

= 0.11

For each Krona exchanged, we get €0.11

ii. Following the example of the first question,

if £1 is to $1.12 then how many pounds are a dollar?

= 1/1.12

= 0.89

£0.89 is equal to a dollar.

if €1 is to $1.04 then how many euros are a dollar?

= 1/1.04

= 0.96

€0.96 are equal to a dollar.

This means that,

£0.89 = €0.96

So for every British Pound exchanged we get how many Euros?

= 0.96/0.89

= 1.078

= €1.08

For every British pound Exchanged, we get €1.08

6 0
4 years ago
A bank reconciliation:Group of answer choicesis a formal financial statementboth A and B are correctis part of a sound internal
Anna [14]

The Correct question reads;

Which of the following statements about bank reconciliations is correct?

a. Should not be prepared by an employee who handles cash transactions

b. Is part of a sound internal control system

c. Is a formal financial statement

d. Both (a) and (b) are correct

Answer:

<u>a. Should not be prepared by an employee who handles cash transactions</u>

<u>Explanation:</u>

It is only a bank that prepares a bank reconciliation statement. So, it is correct to say that a bank reconciliation statement should not be prepared by an employee who handles cash transactions.

3 0
3 years ago
PLEASE HELP!!!
Luden [163]

building society --- is owned by its members and provides banking servic

trust company --- acts as a fiduciary and handles custodial asset arrangements

asset management firm --- invests people's funds in financial assets

stock brokerage firm --- trades securities and makes money from commissions


5 0
3 years ago
Read 2 more answers
Other questions:
  • When silo gimp graduated from college with a degree in flower growing.He was voted...
    14·1 answer
  • Suppose that in the rice market demand shifts greatly due to a new rice diet that is being marketed heavily in the U.S. as a cur
    10·1 answer
  • Brand loyalty can be created by: a. minimal advertising. b. not using patents to protect products. c. cutting the costs for rese
    14·2 answers
  • At the PR firm where Gerald works, everyone considers him to be very good with his work and depends heavily on his knowledge to
    11·2 answers
  • 1) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic i
    12·1 answer
  • Suppose that the following group of values has been entered into the TVM solver of a graphing calculator: N-300, 1%-87, PV-11 50
    14·1 answer
  • When making financial decisions, it is important that you critically evaluate the source.
    12·2 answers
  • An investor purchases one municipal and one corporate bond that pay rates of return of 8% and 10%, respectively. If the investor
    14·1 answer
  • An example of a discretionary item in the federal budget is
    5·1 answer
  • Reasons for unequal distribution of income in developing countries​
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!