Product mix, also known as product assortment, is the total number of product lines that a company offers to its customers. The product lines may range from one to many and the company may have many products under the same product line as well. All of these product lines when grouped together form the product mix of the company.

3 0

3 years ago

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Nico Corporation has cost of goods sold of $300,000 and inventory of $30,000, then the inventory turnover is ________ and the av

Xelga [282]

Answer:

Invnetory TurnOver 10

Average inventory 36.5

Explanation:

$\frac{COGS}{Inventory} = $TO Inventory\\$

300,000 / 30,000 = 10

The company sales his inventory 10 times per year

In some cases, we are given with a beginning and ending inventory.

For those, we calculate the average inventory:

(beginning + ending)/2

$\frac{365}{Inventory \: TO} =$average age$

365/10 = 36.5

The average the inventory age is 36.5 days

365 are the days of the year, and the inventory Turnover are the times per year the inventory is being sold.

we divide one fro manother to get a metric in days of how much the invneotry is in store before being sold.

7 0

3 years ago

Selected data taken from the accounting records of Ginis Inc. for the current year ended December 31 are as follows: Balance, De

nalin [4]

Answer:

Cash payment for merchandise inventory is $1,025,800.00

Cash payment for operating expenses is $179,170.00

Explanation:

The amount of cash payments in respect of merchandise inventory is the cost of merchandise sold minus decrease in inventories plus decrease in accounts payable.

Cash paid for merchandise inventory=$1,031,550-($193,430-$178,020)+($105,800-$96,140)=$1,025,800.00

Cash paid for operating expenses=$179,400+($14,030-$12,650)-($8,970-$7,360)=$ 179,170.00

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3 years ago

Garza company had sales of $144,200, sales discounts of $2,175, and sales returns of $3,460. garza company's net sales equals:

allsm [11]

I would say that Garza company would have net sales of $138565 because the sales discounts of $2175 and the returns of $3460 would have to be subtracted from the total $144,200 to get the $138,565 actual net income to Garza.

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3 years ago