False because I know give brainlessly because I so swag and cool
Ur at a 50:50 chance of getting right. Just guess :p
Answer:
How many units are in process at May 31?
physical units ending WIP: 740
equivalent units WIP materials: 740
equivalent units WIP conversion: 296
Explanation:
We will add the beginning and started units, then subtract the trasnaferrd out to get the ending WIP inventory.
physical units:
beginning 490
started 1,650
transferred-out<u> (1,400) </u>
ending 740
Now we will multiply by the percentage of completion to get the equivlent units of WIP on each category:
<u>equivalent units for ending WIP:</u>
materials 740 x 100% = 740
conversion 740 x 40% = 296
Answer:
7.80 times
Explanation:
First of all we have to calculate the average inventory
Opening inventory= 159,000
Closing inventory= 200,000
Average inventory= (opening inventory+closing inventory)/2
= ( 159,000+200,000)/2
= 359,000/2
= 179,500
The next step is to find the merchandise inventory turnover which is calculated as
= Cost of goods/ Average inventory
Cost of goods= $1,400,000
Average inventory= 179,500
= 1,400,000/179,500
= 7.799 times
= 7.80 times (to 2 decimal places)
Hence the merchandise inventory was turned over 7.80 times in 2019