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
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

You might be interested in
Kay and Jenny's, a restaurant, implements a new system that identifies and gathers information about its regular customers. It r
Elena L [17]

Answer:

Customer relationship management (CRM)

Explanation:

Customer relationship management can be defined as a set of technologies, strategies and practices related to a business, whose main objective is to focus on the relationship with the customer.

The information age has revolutionized the way companies relate to their customers, nowadays digital media and new technologies have enabled greater interactions between company and customer, which created a need for companies to also seek corporate strategies and technologies that would bring relevant benefits for business success. Some of the CRM platforms enable companies to gather information from customers in order to manage sales opportunities and leads, in addition to organizing accounts and contacts in an accessible way and optimizing and accelerating the sales process.

5 0
3 years ago
Operating leverage is easier to control and manage than financial leverage because operating leverage deals with the internal wo
zzz [600]

Answer: FALSE

               

Explanation: In simple words, operating leverage refers to the criteria which shows how much operating income can be increase by increasing the revenue of a project. Whereas, financial leverage refers to the level of debt that a firm has acquired for financing its operations.

The management of a company can easily control financial leverage as it is in their hands to issue or redeem debt. On the other hand, increase or decrease in operating income is dependent on various external factor.

Hence the given statement is false.

7 0
3 years ago
Bubba is a shrimp fisherman who used $2,000 from his personal savings account to buy a boat and equipment for his shrimp busines
oee [108]
2040 I think because 2 percent of 2000 is 40 so you add 2000+40 and you get 2040
7 0
3 years ago
James used $250,000 from his savings account that paid an annual interest of 15% to purchase a hardware store. After one year, J
Alexus [3.1K]

The economic profit is $320,000-$250,000=$70,000.

Economic earnings or loss is the distinction between the sales received from the sale of an output and the costs of all inputs used, as well as any opportunity prices. In calculating financial income, opportunity charges and explicit costs are deducted from revenues earned.

Income is the financial metric that suggests an entity's economic advantage or sales from any enterprise or funding interest. monetary profit is cash earned after taking explicit and implicit costs into account.

Profit is the financial metric that shows an entity's financial advantage or sales from any commercial enterprise or investment pastime. economic earnings are cash earned after taking explicit and implicit prices into consideration.

Learn more about economic profit here: brainly.com/question/24477585

#SPJ4

5 0
2 years ago
Assume you deposit $5,000 at the end of each year into an account paying 9.5 percent interest. a. How much money will you have i
alekssr [168]

Answer: $242,567.27

Explanation:

The $5,000 is an annuity as it is being paid every year and is a constant amount.

The value in 19 years is the future value of this annuity:

Future value of annuity = Annuity * ( ( 1 + rate) ^ number of years - 1) / rate

= 5,000 * ( ( 1 + 9.5%)¹⁹ - 1) / 9.5%

= $242,567.27

8 0
3 years ago
Other questions:
  • A medical assistant is moving heavy medical equipment. To limit risk of injury, she should use proper body (fill in the blank)
    7·1 answer
  • To more quickly respond to customer needs, Hewlett-Packard is changing its organizational structure to give more authority and r
    6·1 answer
  • You have 2500 square feet for selling space. You want to reserve at least 125 square feet for each product category you will car
    13·1 answer
  • Suppose warren buffet withdraws $1 million from his checking account at chase bank. if the required reserve ratio is 20 percent
    6·1 answer
  • Holten Farm sells new tractors and pays each salesperson a commission of $1,000 for each tractor sold. During the month of Augus
    8·1 answer
  • A single commercial bank must meet a 25% reserve requirement. If it initially has no excess reserves and then $2,000 in cash is
    15·1 answer
  • Develop a production plan and calculate the annual cost for a firm whose demand forecast is: fall, 10,100; winter, 8,400; spring
    11·1 answer
  • Brooks Foundry in Charleston, South Carolina​, uses a predetermined manufacturing overhead rate to allocate overhead to individu
    12·1 answer
  • I will give the right answer brainliest. Choose the option that best matches the description given.
    10·2 answers
  • The country of Whatselvania faces a production possibilities frontier like the one shown in class. Decide whether the following
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!