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TiliK225 [7]
3 years ago
15

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

erage age of inventory is ________.
10; 36.536.5; 1030; 36.036.0; 10
Business
1 answer:
Xelga [282]3 years ago
7 0

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.

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The ability to meet short-term obligations and efficiently generate revenues is called Liquidity and efficiency.

When a financial asset or security may be quickly and easily converted into cash without depreciating in value, this is referred to as having liquidity.

In other words, the degree to which an asset may be swiftly purchased or sold on the market at a price representing its underlying value is referred to as liquidity. Due to its ease and speed of conversion into other assets, cash is regarded as the most liquid asset.

Business efficiency is the amount of output a firm or organization can create given the time, money, and resources available. In other words, a company's efficiency refers to how well it can turn resources like labor, capital, and raw materials into services and goods that generate income.

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8 0
1 year ago
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kupik [55]

Answer:

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Explanation:

Weight-Gone has failed in its promise of 8 pounds weight loss,hence a saving-grace approach would be to have cordial talks with the affected customers in order to establish their plight which will serve as a feedback for the quality team and the product design department in redesigning the product to make it fit for purpose.

Full refunds should also be arranged in order to show the company as been a responsible and trusted corporate citizen.

8 0
3 years ago
The local newspaper receives several complaints per day about typographic errors. Overa seven-day period, the publisher has rece
jenyasd209 [6]

Answer:E

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5 0
3 years ago
Cost ConceptOn February 3, Clairemont Repair Service extended an offer of $360,000 for land that had been priced for sale at $40
guajiro [1.7K]

Answer:

The land should be recorded in Clairemont Repair Service’s records at $380,000

Explanation:

According to the historical cost principle, the recording of the fixed assets should be recorded at the purchase price or cost price which is to be shown in the assets side under the balance sheet.

So, according to the question, on February 28, the repair service accepted the seller's counteroffer which means that the land was purchased on February 28 for $380,0000. So, by $380,000 amount, the land would be recorded.

Other costs which are mentioned in the question is ignored.

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3 years ago
Which tab would help you toggle between views?
dmitriy555 [2]

Answer:

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Explanation:

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3 years ago
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