Answer:
Inventory turnover ratio = 7.2 times
Explanation:
Given:
Beginning inventory = $70,000
Ending inventory = $108,000
Cost of goods sold = $644,000
Sales = $888,000
Find:
Inventory turnover ratio
Computation:
Average inventory = [Beginning inventory + Ending inventory] / 2
Average inventory = ($70,000 + $108,000) / 2
Average inventory = $89,000
Inventory turnover ratio = Cost of goods sold / Average inventory
Inventory turnover ratio = $644,000 / $89,000
Inventory turnover ratio = 7.2 times
Answer:
$20,000
Explanation:
The small investment in equities and bonds must be valued at market value and must not be accounted for in-accordance with the speculation of the company. So the market value here is $20,000 and must be valued at this price irrespective of the management valuation.
The correct answers are four and four (4,4).
Why? Since Nettie was able to produce 8 cupcakes and 4 hamburgers within an hour, which gives her 8 cupcakes and 4 hamburgers available for trading while Becky was able to produce 4 cupcakes and 8 hamburgers in an hour. When they traded each other for a certain food its value will be equal to the opposite food, like 1 hamburger is equivalent to 1 cupcake, Nettie consumed 4 hamburgers, while Becky consumed 4 cupcakes, which is why they both consumed 4 pieces of food each after their trade.
The role of taxation in the circular flow of income, is basically to have a medium of revenue for the government, if the government is able to earn money, they are able to spend it on the economy.
So then the role of Government expenditure is to make sure the money goes back into the economy, if the government were to save the money, the economy will have restriction to grow, if all the money the government creates from tax was put back into the economy by spending in say, Heath, Education, Investment, the economy can grow because then household will spend money from their income to utilise these industries.
Hopefully this helps!
