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Lina20 [59]
3 years ago
10

If a firm’s inventories on hand are $200,000, its cost of goods sold is $600,000, and its sales are $800,000, what is the invent

ory turnover?
Business
1 answer:
Vadim26 [7]3 years ago
3 0

Answer:

inventory turnover= 3

Explanation:

Giving the following information:

A firm’s inventories on hand are $200,000

The cost of goods sold is $600,000.

To calculate the inventory turnover, we need to use the following formula:

inventory turnover= cost of goods sold/ average inventory

inventory turnover= 600,000/200,000= 3

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The statement is: True.

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3 years ago
​(Annuity payments) Calvin Johnson has a 5000 debt balance on his Visa card that charges 12.9 percent APR compounded monthly. In
olya-2409 [2.1K]

Answer:

41.49 approx 42 months

Explanation:

To calculate the number of months, we use the formula for loan

p = r(pv) / 1 - (1+r)-n

make n subject of the formula

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p - p (1+r)^-n = r(pv)

p (1+r)^-n = p-r(pv)

(1+r)^-n = (p-r(pv)) / p

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