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arlik [135]
3 years ago
12

Tinker's 2019 cost of goods sold was $750,000 and 2018 cost of goods sold was $770,000. The inventory at the end of 2019 was $18

8,000 and $208,000 at the end of 2018. What was Tinker's inventory turnover during 2019?
A. 3.79
B. 3.99
C. 3.84
D. 3.89
Business
1 answer:
castortr0y [4]3 years ago
4 0

Answer:

A

Explanation:

In this question , we are asked to calculate the inventory turnover during 2019.

Mathematically;

Inventory turn over = Cost of goods sold/Average inventory

From the question, we identify that the cost of goods sold = $750,000

Average inventory = (188,000 + 208,000)/2 = 396,000/2 = 198,000

Inventory turn over = 750,000/198,000 = 3.79

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An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case,
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A. Inelastic

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A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $30, $38, and $90. The nu
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Answer:

The one-day rate of return on the index is 3.43%

Explanation:

Given that the shares were priced at;

$30    for    710,000 shares

$38    for    610,000 shares

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Changes in prices of shares

$34-$30=4

$36-$38= -2

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3 0
3 years ago
Padco averages $15 million worth of inventory in all of its worldwide locations. They operate 51 weeks a year and each week aver
Phoenix [80]

Answer:

Option (d) is correct.

Explanation:

Given that,

Average inventory in all of its worldwide locations = $15 million

Operate in a year = 51 weeks

Weekly cost of goods sold = $3 million

Annual cost of goods sold:

= Weekly cost of goods sold × Number of weeks in a year

= $3 million × 51 weeks

= $153 million

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= 10.2 turns

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