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
natali 33 [55]
3 years ago
11

Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $552,500 Inventories: Beginning of y

ear 200,000 End of year 140,000 Determine the number of days' sales in inventory for the year. a.92.5 days b.112.3 days c.39.6 days d.132.1 days
Business
1 answer:
nikitadnepr [17]3 years ago
7 0

Answer:

b.112.3 days

Explanation:

The computation of the number of days' sales in inventory for the year is shown below:

Day inventory outstanding = {(Beginning inventory + ending inventory) ÷ 2}÷ cost of goods sold × number of days in a year

= {($200,000 + $140,000) ÷ 2} ÷ ($552,500) × 365 days

= ($170,000)  ÷ ($552,500) × 365 days

= 112.3 days

You might be interested in
Consider the following statements, and indicate which variable is an independent variable and which variable is a dependent vari
Kobotan [32]

Answer and Explanation:

A. When the employees are more educated and have the higher income as compared with the less educated employees so here education would be indepedent variable and the income is dependent variable. Also the relationship between these two variables i.e. education and income is positive

Therefore the same is relevant

8 0
3 years ago
The ___________ is the primary agency responsible for drawing up the budget.
aleksley [76]

<span>The government is the primary agency responsible for drawing up the budget.

</span>Government<span> is the means by which state policy is enforced, as well as the mechanism for determining the policy of the state. Forms of </span>government<span>, or forms of state governance, refers to the set of political systems and institutions that make up the organization of a specific </span>government<span>.</span>

7 0
3 years ago
Which of the following are in accordance with IFRS? Cash basis accounting Both accrual basis and cash basis accounting Neither a
Anton [14]

Answer:

Accrual basis accounting

Explanation:

Under Accrual basis of accounting, income is recognized when it is earned and not when actual cash is paid or received.

Under cash basis of accounting, income is only recognized when actual cash is received.

Accrual basis of accounting ensures transactions pertaining to a period are recorded in that period and  it depicts more accurate financial picture unlike in cash accounting wherein income for a period might be overstated or understated.

Following cash basis of accounting is not in accord with both US GAAPs (generally accepted accounting principles) and IFRS.

7 0
3 years ago
___ is the courts do not consider legitimate competitive behavior permissible if it results in the breaking of a contract.
grandymaker [24]

Answer:tortious interference

Explanation:

tortious interference is a law term that comes to mind when there is a breach of contract resulting from the competitor's actions. Tortious interference in Tort law(an area of law) deals with the situation in which there is damage to property emanating from intentional or negligent acts of the defendant, in this case the competitor in business. In which case the actions(competitive behaviour) of defendant is not justifiable and permissible and simultaneously breaches contract of plaintiff, it becomes tortious interference.

3 0
3 years ago
Which of the following positions refers to a functional manager
lbvjy [14]
The where’s the picture !!
5 0
3 years ago
Read 2 more answers
Other questions:
  • Which task should happen during the planning of a project
    14·2 answers
  • A price floor is Group of answer choices often imposed when sellers of a good are successful in their attempts to convince the g
    9·1 answer
  • A good reason to open a checking account is that
    9·1 answer
  • "what are the key steps in retirement planning
    12·1 answer
  • A stock is currently selling for $75 per share. You could purchase a call with a strike price of $73 for $4. You could purchase
    15·1 answer
  • Seeing these questions my school makes us seem uneducated
    11·1 answer
  • A​ single-price monopoly​ _______. A. experiences economies of scale over the relative portion of the LRAC curve B. is a price t
    15·2 answers
  • Hernandez Corporation expects to have the following data during the coming year. What is Hernandez's expected ROE? Assets $200,0
    8·1 answer
  • What is artificial selection
    15·2 answers
  • Sugarland Company is using new cost drivers for its accounting system. One driver material handling for unit variable costs and
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!