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IRISSAK [1]
3 years ago
10

The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000;

beginning inventory $160,000; ending inventory $240,000; and gross profit $600,000. Inventory turnover is 6 times per year. What is Wilkens' days in inventory for 2017?
Business
1 answer:
andriy [413]3 years ago
7 0

Answer:

Wilkens' days in inventory for 2017 = 60.833

Explanation:

Given:

Sales = $1,800,000

Beginning inventory = $160,000

Ending inventory = $240,000

Gross profit = $600,000

Inventory turnover = 6 times

Wilkens' days in inventory for 2017 = ?

Computation of Wilkens' days in inventory for 2017:

Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover

Wilkens' days in inventory for 2017 = 365 / 6 times

Wilkens' days in inventory for 2017 = 60.833

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Answer:

Prepare for the future

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3 years ago
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A(n) _____ projects the types and amounts of assets a firm will require to carry out its future plans and forecasts the amount o
IRISSAK [1]

Additional funds needed is “extra money needed,” and it refers to other resources that will be needed for the company to expand its operations.

<h3 /><h3>What do you mean by additional fund needed projects?</h3>

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6 0
2 years ago
The following production data were taken from the records of the Finishing Department for June:Inventory in process, 6-1 (30% co
ad-work [718]

Answer:

Option (a) is correct.

Explanation:

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Since the increasing level of government transfers only transfers the wealth without actual creation of goods/services, Higher taxes may be necessary to finance increased transfer payments, leading to a reduction in hours worked because of a decrease in the reward for productive activity. Not only that, <span>.Greater transfer activity diverts productive resources into rent-seeking activity</span>
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3 years ago
How do you calculate for equilbrium national income output?thank you ❤​
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<em>Most simply, the formula for the equilibrium level of income is when aggregate supply (AS) is equal to aggregate demand (AD), where AS = AD. Adding a little complexity, the formula becomes Y = C + I + G, where Y is aggregate income, C is consumption, I is investment expenditure, and G is government expenditure.</em>

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