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
coldgirl [10]
3 years ago
5

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $700,000 Cost of

merchandise sold during year 270,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000
Business
1 answer:
Elodia [21]3 years ago
3 0

Answer:

2.7

Explanation:

The inventory turnover is defined as the ratio between the cost of merchandise sold during the year and the average inventory.

Average inventory can be defined as the mean between initial and ending inventory. The inventory turnover is:

IT=\frac{\$270,000}{\frac{\$110,000+\$90,000}{2} } \\IT=2.7

The inventory turnover ratio is 2.7.

You might be interested in
Farmers Produce Inc. and Growers Market enter into a contract for the delivery of vegetables. Some of the produce spoils before
Tamiku [17]

Answer:

A. Not fully integrated.

4 0
3 years ago
Michael Co. is a corporation that sells breakfast bars. Based on the accounts listed below, what are Michael's total trade recei
Thepotemich [5.8K]

Answer:

B. $42,000

Explanation:

Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.

For Michael Co., this can be calculated as follows:

Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales

Therefore, we have:

Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.

Therefore, Michael's total trade receivables is $42,000.

7 0
2 years ago
On June 15, Harper purchased equipment for $100,000 from Imperial Corp. and signed for the goods as President of the company. He
Ivenika [448]

<u>Full question:</u>

On June 15, Harper purchased equipment for $100,000 from Imperial Corp. for use in its manufacturing process. Harper paid for the equipment with funds borrowed from Eastern Bank. Harper gave Eastern a security agreement and financing statement covering Harper’s existing and after-acquired equipment. On June 21, Harper was petitioned involuntarily into bankruptcy under Chapter 7 of the Federal Bankruptcy Code. A bankruptcy trustee was appointed. On June 23, Eastern filed the financing statement. Which of the parties will have a superior security interest in the equipment?

A. The trustee in bankruptcy, because the filing of the financing statement after the commencement of the bankruptcy case would be deemed a preferential transfer.

B. The trustee in bankruptcy, because the trustee became a lien creditor before Eastern perfected its security interest.

C. Eastern, because it had a perfected purchase money security interest without having to file a financing statement.

D. Eastern, because it perfected its security interest within the permissible time limits.

<u>Answer:</u>

Eastern parties will have a superior security interest in the equipment because it perfected its security interest within the permissible time limits.

<u>Explanation:</u>

Eastern has a higher security interest because Eastern amended its security interest inside the allowable time deadlines. A perfected security interest in any security interest in an asset that cannot be demanded by any other party.  

Below the Uniform Commercial Code (U.C.C.), to perfect a security interest, a lender has 10 days from the date of the sale of material to perfect the security interest by filing a financing statement.  Possessing registered in the 10-day limit, Eastern has a strong perfected security interest in the material and after-acquired things even though the bankruptcy was recorded two days ahead.

6 0
3 years ago
Customer retention is measured as the percentage of customers who return for more service. true false
seraphim [82]
Your answer is true! The root of the word "retention" is retain, so basically customer retention means retaining customers, which also means having them return. Hope I helped!
8 0
2 years ago
A remotely located air sampling station can be powered by solar cells or by running an above ground electric line to the site an
Olin [163]

Answer:

a) should install the solar cells

alternative 1, solar cells

initial investment $18,000

annual expenses $2,400 (5 years)

NPV =  $27,097.89

AW = (10% x $27,097.89) / [1 - (1 + 10%)⁻⁵] = $7,148.36

alternative 2, power line

initial investment $27,500

annual expenses $1,000 (5 years)

NPV =  $31,290.79

AW = (10% x $31,290.79) / [1 - (1 + 10%)⁻⁵] = $8,254.43

b) $23,307.10

3 0
2 years ago
Other questions:
  • If the plaintiff, Carlene, files a case in the state court in Lucas County, Ohio, and the defendant, Carlos, wants the case hear
    13·1 answer
  • Kelly's kitchen, a restaurant, strives to improve its customer service and makes sure that its customers enjoy the food and ambi
    5·1 answer
  • What are two examples of document recognized in every state?
    5·1 answer
  • If the goal is to cut the total amount of smoke in half in the neighborhood, what isthe cost-effective way to do this?
    15·1 answer
  • Pioneer Chicken advertises "lite" chicken with 30% fewer calories than standard chicken. When the process for "lite" chicken bre
    9·1 answer
  • Which is a feature of a perfectly competitive market?
    6·1 answer
  • Accounts payable $ 18400 Accounts receivable 11000 Accumulated depreciation – equipment 28000 Advertising expense 20600 Cash 150
    9·1 answer
  • One of the toughest problems in investigating systems requirements is ensuring that they are complete and comprehensive. Imagine
    9·1 answer
  • The cost slope of an activity $ 250/day. The normal duration of this activity is 15 days, the crash cost is $1,500 and the maxim
    6·1 answer
  • Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,988. The
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!