Answer:
Pronghorn Inc.
Inventory Turnover = 7 times
Days in inventory = 52.14 days
Gross profit rate = 47.86%
Explanation:
a) Data and Calculations:
Beginning inventory $10,620
Ending inventory 13,430
Average inventory = $12,025 ($10,620 + $13,430)/2
Cost of goods sold 84,175
Sales 146,100
Gross profit = $69,925 ($146,100 - $84,175)
Inventory Turnover = Cost of Goods Sold/Average Inventory
= $84,175/$12,025
= 7 times
Days in inventory = 365/7 = 52.14 days
Gross profit rate = Gross profit/Sales * 100
= $69,925/$146,100 * 100
= 47.86%
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Answer:A. Increases its connectivity with people and organization in other parts of world
Explanation:
Globalization occurs when a firm is able to break down the communication or distance barriers with firms and people of other nations and interact with them economically or otherwise as if they are whithin the same geographic boundaries.
The advent of communication and internet facilities have facilitates globalization with it's accompanying advantages and disadvantages.
Answer:
Price bundling
Explanation:
Price bundling -
It is the practice of selling a combined package of goods and services at a much lower price , than selling it individually , is known as price bunding .
The practice is beneficial as it increases the sale of goods and services .
For example ,
package of TV channels , new mobile phone with some data plans , getting something free on the purchase of a particular commodity , is an example of bundle pricing .
Hence , the example shown in the question , is about price bundling .
Answer:
(a) 8 times
(b) 45.6 days
Explanation:
Given that,
Cost of goods sold = $500,000
Average inventory = $62,500
Assume 365 days a year.
(a) Inventory turnover ratio:
= Cost of goods sold ÷ Average inventory
= $500,000 ÷ $62,500
= 8 times
(b) Number of days' sales in inventory days:
= 365 days ÷ Inventory turnover ratio
= 365 days ÷ 8
= 45.6 days