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
kirill [66]
2 years ago
6

Pascarelli Corporation’s inventory at the end of Year 2 was $132,000 and its inventory at the end of Year 1 was $160,000. Cost o

f goods sold amounted to $920,000 in Year 2. The company’s average sale period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)
Business
1 answer:
kaheart [24]2 years ago
7 0

Answer:

58 days

Explanation:

Inventory turnover = Cost of goods sold ÷ Average inventory

= $920,000 ÷ $146,000 = 6.30 (rounded)

Average inventory = ($132,000 + $160,000) ÷ 2

=$292,000÷ 2

= $146,000

Average sale period = 365 days ÷ Inventory turnover

= 365 days ÷ 6.30 = 57.9

Approximately 58 days

Therefore the company’s average sale period for Year 2 is closest to 58 days

You might be interested in
If your budget allowed you extra money for this month, would you choose to consume, invest, or save that money? Why? Be specific
ruslelena [56]
Personally, I would choose to save that money. The reason why is you never know - maybe something bad is going to happen and you will need that extra cash. So instead of splurging it on material things, it's better to save it for a rainy day, in my opinion. Investing is not safe, given that you may lose a lot more than you invest. 
3 0
2 years ago
Read 2 more answers
You will still be able to get public broadcasting whether or not you contribute to their fundraising campaign. You decide not to
Alika [10]

Answer:

D. a free-rider problem

5 0
2 years ago
Write a summary of the following passage: Full-time employees earn vacation days at the rate of one day per month, or twelve day
Oduvanchick [21]
Full time employees are allowed a vacation they earned at the rate of one day per month at anytime, with a request submitted at least three business days minimum before the vacation period. failure to submit  within the this time frame might cause denial of the vacation.
3 0
3 years ago
Even if the end of an accounting period occurs between the signing of a note payable and its maturity date, the matching princip
Nimfa-mama [501]

Answer:

True

Explanation:

The matching principle states that only those payments and receipts which actually are paid or received. the interest accrued is not included unless it is paid

8 0
3 years ago
According to this warranty, if the camera has had its serial number removed, would it be repaired?
bezimeni [28]
No, It would not be because it does not have a serial number.
4 0
3 years ago
Read 2 more answers
Other questions:
  • Roshannon Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing sys
    7·1 answer
  • Leo works in a Mercedes Benz factory in Alabama. He is then transferred to Mercedes’s plant in South Africa. When does the value
    10·1 answer
  • Kieso Company borrowed $630,000 for five months. The annual interest rate on the loan was 12%. Kieso's fiscal year ends on Decem
    5·1 answer
  • The cost of beginning work in process inventory plus the costs added to production during the period equals the _______. cost of
    9·1 answer
  • Which of the following statements is FALSE?
    13·1 answer
  • If the income elasticity of demand for good X is negative and the cross-price elasticity of demand between good X and good Y is
    5·1 answer
  • The beginning inventory of BG Action Figures is understated by $7 million at December 31, 20x8. What is the effect on 20x8 cost
    10·1 answer
  • You anticipate your firm will need 20,000 bushels of oats in December so you hedged your position today at the closing price whe
    6·1 answer
  • Before Blueberry Designs launched their active wear line, they created a series of ads showing people wearing their designer dre
    12·1 answer
  • Last week Sarah Carver worked 4 overtime hours at time-and-a-half pay. Her
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!