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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.

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Explanation:

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3 years ago
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olganol [36]

Answer:

2) assumption not made

Explanation:

The original statement does not include any assumption about what the companies are doing about this issue, it just proposes an idea of fair compensation.

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3 years ago
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sergejj [24]

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8 0
4 years ago
To avoid double-counting output in GDP measures, _____ are excluded in GDP.
Effectus [21]
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7 0
3 years ago
Tim wrote a negotiable note. Subsequently, Tim's debts were discharged in bankruptcy. If a holder in due course presents the not
fomenos

Answer:

TRUE

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Bankruptcy is a legal framework, in which borrowers who cannot pay their loans, may seek relief from all of their liabilities from individuals or other organizations. In most states, a judge's order mandates bankruptcy.

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5 0
3 years ago
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