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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

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In regards to benchmarking, which of the following statements is correct?
Vitek1552 [10]

Answer:

C. Risk Management Association provides common-size statements for most industries.

Explanation:

Benchmarking is a process of comparing a company's performance or processes to the best practices in the industry or a competitor. Benchmarking is a way to determine company's abilities and weaknesses, in order to improve its internal processes and functions.

The industry average serves as a useful tool for the companies to benchmark their performance. For this purpose Risk Management Association provides common-size statements for most industries to evaluate their company.

7 0
3 years ago
Read 2 more answers
Intranets are an effective tool for gauging employee opinions and reactions to policy changes.
muminat

Answer:

False

Explanation:

I believe the employee opinions and reactions to policy changes will show up in the workplace.

6 0
4 years ago
Melissa is a minor who agrees to purchase a car from Umberto for $10,000 one month after she turns eighteen years of age. On tur
BartSMP [9]

Answer:

enforceable because it has been expressly ratified by Melissa.

Explanation:

A contract is defined as a legally binding agreement between parties, and is enforceable on both parties involved. There is usually an offer and acceptance to make the contract valid and enforceable. It can involve exchange of goods and services, or future promise to exchange goods and services.

In this instance bMelinda agreed with Umberto that she will buy a car from him when she turns 18 years. The condition to the contract was Melinda turning 18 years.

She has ratified this condition so the contract is now enforceable.

7 0
4 years ago
Taco Hut purchased equipment on May 1, 2018, for $15,000. Residual value at the end of an estimated 8-year service life is expec
densk [106]

Answer:

2018: 8 months

Depreciation= $916,67

2019: full year

Depreciation= $1375

Explanation:

Giving the following information:

Taco Hut purchased equipment on May 1, 2018.

Price:  $15,000.

Residual value: $4,000

Useful life: 8 year

We need to calculate the depreciation for 2018 and 2019 using straight-line method:

Depreciation= (purchase price- residual value)/useful life

Depreciation= (15000-4000)/8= $1375

2018: 8 months

Depreciation=(1375/12)*8= 916,67

2019: full year

Depreciation= $1375

7 0
4 years ago
what is the present value of the following cash flow stream at a rate of 10.0%? years: 0 1 2 3 cfs: $750 $2,450 $3,175 $4,400
lana [24]

The present value of the given cash flow stream at a rate of 10.0% for all the years that is from year zero to year three is $10,777.50. Hence, Option B is correct.

<h3>What is a cash flow stream?</h3>

For describing any business proposal, there are very specific requirements, but the two things that are majorly required are cash flow instances and cash flow stream.

A cash flow stream is basically a kind of specific amount that sometimes flows into or sometimes flows out of an organization. It is basically for a particular time period, which can be calculated with the help of some proposal.

Therefore, the given data after doing these required calculations when the cash flow is calculated at a rate of 10.0%, the amount is $10,777.50. Option B is correct.

Learn more about cash flow stream from here:

brainly.com/question/15565882

#SPJ4

The complete question is attached in text form:

What is the present value of the following cash flow stream at a rate of 10.0%?

Years: CFs:

0 $750

1 $2,450

2 $3,175

3 $4,400

a. $8,283.53

b. $10,777.50

c. $10,866.57

d. $7,749.11

e. $8,907.02

3 0
1 year ago
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