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
Arte-miy333 [17]
3 years ago
5

Jim had a beginning inventory of $5,500. During the month of April, he purchased $4,000 of food and had an ending inventory of $

3,800 at the end of the month. His sales for April were $8,750. What was his inventory turnover?
Business
1 answer:
Likurg_2 [28]3 years ago
8 0

Answer:

1.23

Explanation:

Inventory turnover is a ratio showing how many times a company has sold and replaced inventory during a given period.

Cost of Sales=Opening Inventory+Purchases-Closing Inventory

                      =5,500+4,000-3,800= 5,700

Average Inventory= Opening + Closing/2

                              = 5,500+3,800/2= 4,650

Inventory Turnover Ratio= <u>Cost of Sales</u>

                                            Avg Inventory

                                          = 5,700/4,650=1.23

You might be interested in
The head of accounting at delores inc. is computing a value that represents the company's financial performance for the previous
Nesterboy [21]
<span> In this scenario, the mean as a measure of central tendency will be least effective as an accurate representation of financial performance.
</span><span>The mean is a measure of central tendency that is the average for a sample.
</span><span>In this specific case the mean is not effective measure because there is a huge difference in the financial performance in the last month compared to the previous months.So the mean would not give the real picture.</span>
5 0
3 years ago
A simple purchase on the Internet will not require which function?
Alecsey [184]
A. Multiple password changes and verifications

You won’t need a password for most online stores. The rest of the answers are all required.
6 0
3 years ago
Monopolistic competitors in the food industry, acting in their own self-interest, will often include a recyclable symbol on pack
anygoal [31]

Answer:

Differentiate their products

Explanation:

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

examples of monopolistic competition are restaurants

A monopolistic firm in the food industry acting in their own self-interest, will often include a recyclable symbol on packaging used for their product to Differentiate their products. This is meant to communicate to consumers that they are different from other firms in the industry

5 0
3 years ago
Assume that the reserve requirement is 25%. If the Federal Reserve sells $120 million in government securities to the general pu
gladu [14]
Is there any answers choice or I have to figure it my self
6 0
3 years ago
Which of the following should you NOT wear to an interview?
natulia [17]

Answer: I think Anything tight, bright, short, or sheer should absolutely be avoided.

Explanation:

5 0
2 years ago
Other questions:
  • In which of the following ways can a person earn an income? A. Investment B. Salary C. Savings D. Wage
    15·2 answers
  • The following PERT network lists all the different tasks that must occur in order for West Coast Aquatics Swim Club to successfu
    15·1 answer
  • Why must banks keep money on reserve?
    5·1 answer
  • What is a means exam?
    8·2 answers
  • Listed below are the three functions of the management of an organization. 1. Planning 2. Directing 3. Controlling Identify whic
    5·1 answer
  • Nish Corporation has provided the following data for the month of April:
    6·1 answer
  • Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process
    9·1 answer
  • Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has gone u
    12·1 answer
  • Princess Cruise Company (PCC) purchased a ship from Mitsubishi Heavy Industry. PCC owes Mitsubishi Heavy Industry 500 million ye
    14·1 answer
  • what happens when the price of a good increases holding everything else constant? producer surplus decreases consumer surplus de
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!