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galben [10]
2 years ago
13

Multiple Choice Question 121 The following information pertains to Ortiz Company. Assume that all balance sheet amounts represen

t both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 45000 Accounts receivable (net) 25000 Inventory 12000 Property, plant and equipment (net) 210000 Total Assets $292000 Liabilities and Stockholders’ Equity Current liabilities $ 50000 Long-term liabilities 90000 Stockholders’ equity—common 152000 Total Liabilities and Stockholders’ Equity $292000 Income Statement Sales (net) $ 120000 Cost of goods sold 66000 Gross profit 54000 Operating expenses 30000 Net income $24000 Number of shares of common stock 6000 Market price of common stock $20 Dividends per share 0.5 What is the inventory turnover for Ortiz?
Business
1 answer:
olasank [31]2 years ago
5 0

Answer:

Inventory TO 5.5

This means Ortiz sales his inventory 5.5 times per year.

Explanation:

Inventory turnover for Ortiz

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

​where:

$$Average Inventory=(Beginning Inventory + Ending Inventory)/2

COGS:     66,000

In this case the average inventory is provided already: 12,000

\frac{66000}{12000} = $Inventory Turnover

Inventory TO 5.5

This means Ortiz sales his inventory 5.5 times per year.

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Harman [31]

<u>The reason that Pablo Picasso, become wealthy during his lifetime and the artist, Vincent van Gogh, remain poor his entire life:</u>

Pablo Picasso and Vincent van Gogh had more features in common. They had unanimously indistinct style of arts which had become immediately identifiable.

In spite of all that, Picasso died as a rich man owning an estate which is estimated at nearly 750 million dollar whereas Van Gogh died as a pauper.

Studies claim that the reason behind this would be that, Van Gogh remained to be a loner and socially inactive. He was depending on his brother to meet the social world and in contrast Picasso was a charismatic active member in various social clubs where her had multiple number of contacts and connections.

It's been said that Pablo Picasso was a hub who had a vast network of social lines and Vincent Van Gogh was a silent or solitary node.

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5 0
3 years ago
Which general staff member directs all responses and tactical actions to achieve the incident?.
ch4aika [34]

The Operations Section Chief directs all responses and tactical actions to achieve the incident objectives.

<h3>What is Operations Section Chief ?</h3>

The Operations Section Chief, a member of the General Staff, is in charge of all operations directly related to the core mission. The Operations Section Chief initiates, supervises, and leads the execution of organizational elements in accordance with the Incident Action Plan.

The Operations Section Chief directs tactical incident activities to achieve incident objectives and oversees the implementation of the Incident Action Plan (IAP). 1. This role can be ordered as a stand-alone resource or as part of a National Incident Management System (NIMS) team (Incident Management Team).

The OSC1 works in the Operations functional area and reports to the Incident Commander (IC). The OSC1 performs duties corresponding with the Type 1 incident complexity and characteristics outlined in the Interagency Standards for Fire and Firefighting.

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4 0
2 years ago
2. Explain how advertising and sales practices fed consumer demand during the late 1800s. What were the specific tactics used
erik [133]

Answer with its Explanation:

In the 1800s, advertising was done in local newspapers and in a number of magazines. The cost of advertising in newspapers was very high in those days because the only source of communication with the public was newspaper and magazines.

The designing of copying and opting to art was very common in those days which was adopted to attract key customers and placement of the advertisements in a specific place which would result in higher sales was also common to attract customer attention.

The telephone was invented in 1876, but still telemarketing started in 1970s. So the primary source of advertising and sales promotions was either by newspaper and magazines or face to face selling.

8 0
2 years ago
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Nonprice rationing devices are required:a. because the price system does not allocate resources efficiently.b. when there are pr
o-na [289]

Answer:

d. to allocate goods when there is a price ceiling.

Explanation:

Non price rationing or queuing is a measure used when there is a price ceiling, queuing is used to arrange people on a first come first serve basis.

Rationing is done on the non monetary cost of waiting in line.

Waiting time eventually balances buyer equillibrum. When customer's are waiting on queues for too long some of them loose interest and leave, this restoring balance between what is available and number of people waiting to buy.

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2 years ago
A question that can be answered by observing and analyzing the world as it is known:
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Empirical Question is a question that can be answered by observing and analyzing the world as it is known:
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