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
masya89 [10]
3 years ago
12

The 2016 financial statements of CVS Health Corporation reported the following information (in millions): 2016 2015 Net sales $1

77,526 $153,290 Cost of sales 148,669 126,762 Inventories, net 14,760 14,001 The inventory turnover ratio for 2016 is: Select one: A. 9.22 B. 11.48 C. 9.33 D. 10.34 E. None of the above
Business
1 answer:
Serggg [28]3 years ago
8 0

Answer:

option (D) 10.34

Explanation:

The  inventory turnover ratio for 2016 will be given as:

= [Cost of goods sold ] ÷ Average inventory

also,

Cost of goods sold in 2016 = $148,669

Average inventory = [ 2015 inventory + 2016 inventory ] ÷ 2

= [ 14,001 + 14,760 ] ÷ 2

= 28761 ÷ 2

= 14,380.5

Therefore,

The  inventory turnover ratio for 2016 = $148,669 ÷ 14,380.5

= 10.34

Hence,

The answer is option (D) 10.34

You might be interested in
Domino's Pizza was 50 years old in 2010. Visit the company's business-related website (www.dominosbiz) and read the company prof
RUDIKE [14]

Answer:

Consider the following paragraph I wrote

Explanation:

I think the firm focuses on the economic perspective in describing its competitive advantage. In the economic perspective, a firm focuses on how much economic value it creates through its competitive advantage.

In the company profile, Domino's focuses on how much economic value it creates for its sub-franchisees, franchisees and the parent company. It focuses more on the chain which creates economic value for the entire Domino's ecosystem consisting of the parent company, franchisees, and the sub-franchisees. So, I think the firm focuses on economic perspective in describing its competitive advantage.

4 0
3 years ago
The S&P 500 index delivered a return of 20%, -10%, 20%, and 5% over four successive years.
sladkih [1.3K]

Answer:

C) 8.75%

Explanation:

Number of periods = 4 years

Given return rates = 20%, -10%, 20%, and 5%

To obtain the arithmetic average annual return, add the return rates given for all periods and divide the sum by the number of periods.

AAR = \frac{20-10+ 20+ 5}{4} \\AAR=8.75\%

Over four years, the S&P 500 index delivered an arithmetic average annual return of 8.75%.

4 0
3 years ago
Homeyer Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 71 Manu
Alex

Answer:

Net operating profit= 102,000

Explanation:

Giving the following information:

Selling price per unit $ 71

Manufacturing costs:

Direct materials $ 12

Direct labor $ 6

Variable manufacturing overhead $ 3

Fixed manufacturing overhead per year $ 264,000

Selling and administrative expenses:

Variable selling and administrative expense per unit sold $ 4

Fixed selling and administrative expense per year $ 74,000

Year 1

Units in beginning inventory 0

Units produced during the year 11,000

Units sold during the year 8,000

Units in ending inventory 3,000

Year 2

Units in beginning inventory 3,000

Units produced during the year 12,000

Units sold during the year 14,000

Units in ending inventory 1,000

Unitary cost= (12 + 6 + 3) + (264,000/11,000)= $45

Income statement:

Sales= (8,000*$71)= 568,000

COGS= (8,000*45)= 360,000 (-)

Gross profit= 208,000

Variable selling and administrative= (4*8000)= 32,000 (-)

Fixed selling and administrative expense= 74,000 (-)

Net operating profit= 102,000

4 0
3 years ago
Turkey Corp., a cash basis calendar year C corporation in Savannah, Georgia, has $100,000 of accounts receivable on the date of
Viefleur [7K]

Answer:

The correct answer is $24,500.

Explanation:

According to the scenario, the given data are as follows:

Total Account receivable = $100,000

Amount collected = $70,000

So, if there is sufficient taxable income, then assume tax rate to be 35%.

So, we can calculate the Gains tax by using following formula:

Gain tax = Amount collected × Tax rate

By putting the value, we get

Gain tax = $70,000 × 35%

= $24,500.

5 0
3 years ago
The use of debt in the firm's capital structure will increase ROE if the firm:_____.
DIA [1.3K]

Answer: c. earns a higher return than the rate paid on debt.

Explanation:

If the debt that the company incurs leads to the company making more money than they are paying as interest for the debt, then more money will be available as net income which would increase the Return on Equity.

ROE is calculated by dividing the Net Income by Shareholder equity. Interest is an expense. If this expense is lower then the increase in net income as a result of the debt then it follows that net income would increase and so would ROE.

8 0
3 years ago
Other questions:
  • T was insured under an individual disability income policy and was severely burned in a fire. as a result, t became totally disa
    9·1 answer
  • _______ is a non-cash expense representing the cost assets as they lose value over time
    5·1 answer
  • Part 1 Create a performance appraisal template that you feel meets the needs of your current or previous position and organizati
    8·1 answer
  • Record the following process costing transactions in the general journal
    13·1 answer
  • "what advantage is the company experiencing by allowing angela to telecommute?"
    14·1 answer
  • Enerico contributes $100,000 cash in exchange for a 40% interest in the calendar year ABC LLC. This year, ABC generates $80,000
    10·1 answer
  • On an 8% straight term loan of $6,071, the borrower paid total interest of $1,700. how long did he have the loan?
    14·1 answer
  • The adjusted trial balance for Waterway Industries at the end of the current year, 2021, contained the following accounts. 5-yea
    6·1 answer
  • Type the correct answer in the box. Spell all words correctly. Which term describes a list of all ledger accounts that businesse
    5·2 answers
  • One of the most important applications of ratio analysis is to compare a company's performance with that of other players in the
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!