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
liubo4ka [24]
3 years ago
5

The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt f

rom the final report: Net revenue $ 375,000 Cost of goods sold 322,000 Value of production materials on hand 42,500 Value of work-in-process inventory 37,000 Value of finished goods on hand 12,500 What is the inventory turnover ratio (ITR) ?
Business
1 answer:
Genrish500 [490]3 years ago
7 0

Answer:

The answer is 3.5

Explanation:

Inventory turnover ratio is:

Cost of goods sold / Total or average inventory

Cost of goods sold is $322,000

Total Inventory in this question comprises work-in- process, finished goods and even raw materials.

So total inventory equals:

Production materials on hand $42,500 Work-in-process inventory $37,000

Finished goods on hand $12,500

Total inventory. $92,000

Therefore, inventory turnover ratio is

$322,000 / $92,000

= 3.5

You might be interested in
How, specifically, do equal employment laws apply to personnel recruiting activities?
dimulka [17.4K]

Equal Employment laws protect employees from facing discrimination in the hiring process.

Explanation:

Equal Employment Laws are there to protect the right of a candidate to have equal opportunities compared to their peers and not to be discriminated against in terms of caste, creed, race or gender when in the recruiting activities.

This law exists to provide equal opportunities to the candidates to be able to be selected on merit for the jobs and not to be left behind because of their disadvantages in the social strata from employment as long as they are capable for the jobs.

6 0
3 years ago
Nabisco used a free-standing rack in the shape of a bus to promote its Ritz and other cracker products. The goal of the sales pr
blagie [28]

Answer:

point-of-purchase display              

Explanation:

Point-of-purchase display: The term "point-of-purchase display" is also denoted as "POP display" is described as one of the different marketing materials or advertising that is being placed next to any merchandise that it has been promoting. However, these items are being generally located or present in any checkout area or some other location whereby that specific purchase decision is being made.

In the question above, the given type of sales promotion is referred to as a point-of-purchase display.

8 0
4 years ago
Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the compa
11111nata11111 [884]

Answer:

Straight rebuy

Explanation:

When a purchasing agent performs a straight rebuy, he/she is in a situation where the same products or services are bought over and over again on a relatively steady basis.

The products and services purchased are also simple and common products or services, nothing very complex or specialized that requires looking for new information or investigating who the best vendor might be.

5 0
3 years ago
The assumption that in the absence of contrary information a business entity will continue indefinitely is the:
const2013 [10]

Answer:

(D) Going concern assumption.

8 0
3 years ago
Your friend Burrell says that the government should hire fewer social workers in order to reduce the cost of federal assistance
BARSIC [14]

Answer: b) peoples' responses to financial incentives.

Explanation:

Burrell would be wrong because the most leakage in federal assistance programs comes from the way people respond to financial incentives.

Some people who have received this assistance from the Federal government have decided that it would be better to keep receiving this assistance instead of working to actually get paid.

This has led to more people seeking assistance thereby increasing the number of people needing assistance and invariably increasing the cost of these federal assistance programs.

4 0
3 years ago
Other questions:
  • Anders industries currently holds two debts: an $11,000 debt due in 12 months and a $16,000 debt due in 18 months. anders prepar
    13·1 answer
  • You purchased 3,000 shares of the New Fund at a price of $25 per share at the beginning of the year. You paid a front-end load o
    12·1 answer
  • Costs that are incurred as part of the manufacturing process but are not clearly associated with specific units of product or ba
    9·1 answer
  • The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper numb
    6·1 answer
  • A multinational automobile manufacturer issues a public statement that the company's vehicle emissions tests had been falsified
    15·1 answer
  • David wants to open a new gymnasium with state-of-the-art equipment and qualified trainers. However, he can only afford either o
    6·1 answer
  • Self-management is about (1) knowing who you are and what you want to accomplish in your life, and (2) making these things happe
    13·1 answer
  • Adjusting Entries On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for
    5·1 answer
  • Suppose that at the beginning of 2019 Jamaal's basis in his S corporation stock is $0, he has a $0 debt basis associated with a
    13·1 answer
  • Which of the following types of diversification strategies is characterized by less than 70 percent of revenue coming from the d
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!