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Cloud [144]
3 years ago
8

The King Corporation has ending inventory of $481,060, and cost of goods sold for the year just ended was $4,016,851. a. What is

the inventory turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) b. What is the days' sales in inventory? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) c. How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Andrei [34K]3 years ago
4 0

Answer:

Inventory TurnOver 8.35

Days outstanding 43.71

Average days outstanding 21.86

Explanation:

\frac{COGS}{Inventory} = $Inventory Turnover

\frac{4016851}{481060} = $Inventory Turnover

Inventory TO 8.35

This means the inventory is being sold 8.35 times during the year

\frac{365}{Inventory TO} = $Days on Inventory

\frac{365}{8.35} = $Days on Inventory

Days on Inventory 43.71

The entire inventory is being replaced every 43.71 days

If we assume the batch is sold uniformly over those days

then the haverage wil lbe half of the days outstading:

43.71 / 2 = 21,855‬ = 21.86

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She is partly right. Bright kids are likely to do well in most situations, however, this does not mean that all bright kids will do well in most situations, or that they will do better in an average classroom, than in a classroom that is catered to them.

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Ideally no. If the students are very gifted, they will simply get bored. However, in case it happens, it can also have a positive effect and that is the bright students will probably end up helping the average students.

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3 years ago
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Lawrence Company has cash in bank of $22,000, restricted cash in a separate account of $4,000, and a bank overdraft in an accoun
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