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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

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What are some common motivations of financial statement fraud examination?
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To support a high stock price, to support a bond or stock offering, or to increase the company's stock price.

Explanation:

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3 years ago
Alco roofing company's beginning accounts receivable were $200,000 and ending accounts receivable were $270,000. during the peri
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3 years ago
A case study in the chapter analyzed purchasing-power parity for several countries using the price of Big Macs. Here are data fo
goblinko [34]

Answer:

Predicted exchange rate = Country price of Big Mac/ US price of Big Mac

Predicted exchange rate:

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= 189.93 Forints / USD

Czech Republic = 70 / 4.37

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Brazil = 11.25 / 4.37

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<em>According to purchasing power parity, the predicted exchange rate between the Hungarian forint and the Canadian dollar is </em><em><u>153.42 Forint per C$</u></em><em>. However, the actual exchange rate is </em><em><u>217 Forint per Canadian Dollar</u></em><em>. </em>

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