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
Do you think percentage gains
Anni [7]
I think more varied if you added additional mutual funds you would have a more diverse portfolio.
8 0
3 years ago
Read 2 more answers
Two ways in which can adapt to the challenges of the business environment
Alchen [17]
<h3>Two ways in which can adapt to the challenges of the business environment</h3>
  1. Recognize the Size of the Change
  2. Be open to new and different ideas

Today's business concerns are more pressing than ever before. Businesses are competing on a much greater scale as a result of technical advancements and globalization. And, in light of the current economic and health crises, business owners confront an even greater challenge: prospering, not just surviving. Here are four strategies to explore in order to assist your company adjust amid difficult times.

<h3>1. Recognize the Size of the Change</h3>
  • To most seasoned company and executive leaders, the word 'adapting' may sound cliché. Adaptability, on the other hand, in the context of business simply means being open to new ideas and methods. Accept that the world is changing at a quick speed, and that in order for businesses to thrive, they must adapt their strategy to meet the demands of the moment.
<h3>2. Be open to new and different ideas.</h3>
  • In order to be competitive, a business owner needs understand a few things. The first step is to think about what other options you have. Consider your backup plans and procedures in case the market situation changes unexpectedly. A business owner must constantly be prepared for any kind of tweaks and changes that their company may experience, and have a contingency plan in place that can be implemented promptly.

8 0
2 years ago
Westfall Industries began 2018 with accounts​ receivable, inventory, and prepaid expenses totaling $ 50 comma 000 and its total
Dafna11 [192]

Answer:

The cash flows from operating activities for 2018 is $99,000.

Explanation:

Westfall Industries

Statement of cash flows (extract)

Net income                                                 $81,000

Add Loss on the sale of land                        4,000

       Depreciation expense                           8,000

       Decrease in current asset                     2,000

       Increase in current liabilities                  4,000

Cash flows from operating activities      $99,000

  • Decrease in current assets was arrived at by comparing the closing balance of $48,000 to the opening balance of $50,000.
  • Increase in current liabilities was arrived at by comparing the closing balance of $40,000 to the opening balance of $36,000.

5 0
3 years ago
1. Give one example of professional behavior in a salon and how a cosmetologist could
lana [24]

Answer:

Appropriate language, a cosmetologist can demonstrate this by always speaking in a tone and at a volume that is appropriate for the setting, and never using foul language no matter what.

3 0
3 years ago
Restore Construction Company enters into a contract to remodel Sam’s Home Store, agreeing to use only products from United Build
BlackZzzverrR [31]

Answer:

Sam’s Home Store can enforce the contract against Restore Construction Company

Explanation:

In contract law, only the parties involved in a contract can take action to enforce the contract. In this case Sam' Home Store signed the contract with Restore, so they can enforce it. Any third party beneficiaries from the contract, like United Building Supplies, are not entitled to enforce anything.

6 0
3 years ago
Other questions:
  • Billy is interested in lowering the speed limit on a major road near his house. A citizens’ group has formed to lobby the city c
    8·1 answer
  • Rotonga Manufacturing Company leases a vehicle to deliver its finished products to customers. Which of the following terms corre
    5·1 answer
  • Although not recommended, some marketers decide to ignore market segmentation and target the whole market with one offer. this i
    12·1 answer
  • PLEAS HELP!!!!!!!! I NEED ANSWERS ASAP!!!!!​
    14·1 answer
  • Drying times for newly painted microwave oven cabinets are normally distributed with a mean of 2.5 minutes and a standard deviat
    6·1 answer
  • Describe at least four factors that affect the demand for a particular commodity.
    11·1 answer
  • According to the eTextbook, ______ is the lot size (Q) that will minimize total annual inventory cost.
    6·1 answer
  • Companies should try to focus on their areas of expertise. Should they always outsource other business functions to become a mor
    11·1 answer
  • Jul. 1 Yang contributed $68,000 cash to the business in exchange for common stock.
    12·1 answer
  • Rachel Radcliff earns an annual salary of $165,480. 42. How much Social Security taxes will be deducted from her salary in Novem
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!