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
Hilton's​, a​ home-improvement store​ chain, reported these summarized​ figures:_______.
Nataly_w [17]

Answer:

a. 2017 ⇒ 1.50

   2016 ⇒1.58

b. Deteriorate

Explanation:

a. Current ratio 2017

= Current Assets / Current liabilities

= 6,708,700 / 4,470,000

= 1.50

Current ratio 2016

= 5,848,000 / 3,700,000

= 1.58

b. The current ratio went from 1.58 in 2016 to 1.50 in 2017 which would mean that it deteriorated.

8 0
2 years ago
bought 2,000 shares of Print Company stock for $12,780. She sold the stock for $7 per share and paid a sales commission of $26.
Svetach [21]

Answer:

$1,194

Explanation:

The buying price of the shares was  $12,780

The selling price was $7 dollars for each.

The total amount realized is 2000 share  x $ 7

=$14,000

The commission paid is $26

Net amount obtained is $14,000 -$26

=$13,974

Profit will be $13,974 -$12,780

=$1,194

6 0
3 years ago
Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 90,000 August 110,000 Se
Cerrena [4.2K]

Answer:

$112,500

Explanation:

                                                 July       August         September  October

Credit Sales(90000*75%)       67,500  

                   (110,000*75%)                       82,500

                   (120,000*75%)                                          90,000

Cash Sales (120,000*25%                                            30,000

<em>Total Cash expected to be collected in September will be;</em>

Credit Sales of August      $82,500

Cash  Sales of September $30,000

Total cash expected to be collected in September =$112,500

4 0
3 years ago
Read 2 more answers
The income statement for the year ended December 31, 2020, for Sandhill Manufacturing Company contains the following condensed i
suter [353]

Answer: the answer is idk

Explanation: i need points

3 0
3 years ago
A teacher who counts the number of times a student raises her hand is using what type of recording system?
luda_lava [24]

The type of recording system that the teacher is using in counting the times that the student had raised their hands in his or her class is the event recording, this type of recording system is a way of having to document the behavior whenever the behavior has happened or it has been triggered.

4 0
3 years ago
Other questions:
  • . Assume you are participating in your employer's direct deposit program. On payday, the employer deposits your ________ into yo
    5·1 answer
  • On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates
    10·1 answer
  • Which of the following statements about social media is FALSE? Multiple Choice Social media can lead to hiring discrimination by
    7·1 answer
  • You notice that juice is now selling for much higher prices than in the past, which two things would you expect to happen next
    12·1 answer
  • The burlington company has 12,000 units in beginning finished goods. if sales are expected to be 60,000 units for the year and b
    13·1 answer
  • Tony works as a salesperson at Franklin Delights, a company that specializes in labor-saving kitchen appliances. When Tony gives
    15·1 answer
  • Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor superv
    14·1 answer
  • Dave is a plumber who uses the cash method of accounting. This year Dave requested that his clients make their checks payable to
    5·1 answer
  • The income statement reports all of the following except: Group of answer choices The time period over which the earnings occurr
    12·1 answer
  • covid-19 pandemic of 2020, e-tronics began weighing options for controlling or cutting costs due to lower revenue and profitabil
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!