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
svlad2 [7]
3 years ago
13

Selected financial information for Feemster Company for 2012 follows. Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise

inventory Beginning of year 155,000 End of year 195,000. Required: Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turnover during 2012?
Business
1 answer:
olganol [36]3 years ago
3 0

Answer:

The merchandise inventory turnover during 2012 is 8 times.

Explanation:

The following information is given:

Sales -  $ 2,000,000

Cost of goods sold - $1,400,000

Merchandise inventory Beginning of year -  $ 155,000

Merchandise inventory End of year - $ 195,000

After considering these information, it is easy to calculate the merchandise inventory turnover. The formula is shown below:

Merchandise Inventory Turnover =  COGS ÷ Average inventory

where average inventory = (opening inventory + ending inventory) ÷ 2

So,

Average inventory = ( $ 155,000 + $ 195,000) ÷ 2

                               = $175,000

Now, we can compute easily

Merchandise Inventory Turnover = 1,400,000 ÷ $175,000

                                                       = 8 times

Thus, the merchandise inventory turnover during 2012 is 8 times.

You might be interested in
Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $1
gayaneshka [121]

Answer:

A debit to Unearned Rent and a credit to Rent Revenue for $3,675.

Explanation:

The year end adjusting entry is as follows

Unearned rent Dr $3,675

       To Rent earned $3,675

(Being the unearned rent is recorded)

The computation is shown below:

= Monthly rate × number of months

= $1,225 × 3 months

= $3,675

The three months is calculated from October 1 to December 31 and the same is to be considered

8 0
2 years ago
HELPP
Ipatiy [6.2K]

if he have 25 in the way you want to be ready to be in a society that is a very important thing

5 0
1 year ago
Poka Yoke uses a number of devices to mistake-proof a process. Which of the following would NOT be included?A)Fixture templatesB
marissa [1.9K]

Electric relays a number of devices to mistake-proof a process. the following would not be included.

<h3>What are the devices?</h3>

A device is a complete piece of natural science hardware that is used to compute or support computer mathematical functions within a larger system. Some devices, such as peripheral devices, are subsidiary in nature and can provide input, output, or both to a computer.

Relays are electrically powered switches that operate by receiving electrical signals from other sources to open and close circuits. By turning the switch on and off, they receive an electrical signal and transmit it to other pieces of equipment.

Therefore, Thus, option (B) is correct.

Learn more about devices here:

brainly.com/question/11599959

#SPJ1

6 0
1 year ago
When a boy or girl breaks your heart break their's
dedylja [7]

Answer:

depression.............

3 0
3 years ago
Read 2 more answers
You are the manager of a medium-sized farm with 100 acres of workable land. You can farm the land yourself, rent the land to ano
Ainat [17]

Answer:

The opportunity cost for a year will be $240,000.

Explanation:

The opportunity cost of any decision is the second-best alternative that is given up or sacrificed.  

Here, the manager has a farm of 100 acres of land.  

If he sells it to a developer for $40,000 per acre, he will get $4,000,000 for the whole land.  

He can invest this amount and get an interest of 6% per year.  

The opportunity cost of keeping the farm to the manager himself will be

= 6% of $4,000,000

= \frac{6}{100}\ \times\ \$ 4,000,000

= $240,000

3 0
3 years ago
Other questions:
  • Since your first​ birthday, your grandparents have been depositing $ 120 into a savings account every month. The account pays 6​
    6·1 answer
  • A company pays all selling expenses in the month incurred. Budget information includes: Administrative salaries: $50,000; Sales
    9·2 answers
  • What is the change in quantity supplied when price increases from $0.75 to $1.50?
    7·1 answer
  • The Consumer Products Division of Mickolick Corporation had average operating assets of $510,000 and net operating income of $42
    10·1 answer
  • Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and inc
    14·1 answer
  • Lila purchased Hampton Industries Inc. stock for $18.35 and sold it 6 months later for $21.45 after receiving a $0.50 dividend.
    7·1 answer
  • Assume that 11 comma 200 units were in beginning WIP​ Inventory, 35 comma 500 were​ started, 33 comma 000 were​ completed, and 1
    13·1 answer
  • Information needed to prepare an income statement’s Expense section is obtained from a work sheet’s Account Title column and
    14·1 answer
  • is (R$), has been trading at R$3.40/US$. Exports to Brazil are currently 50,000 printers per year at the reais-equivalent of $20
    11·1 answer
  • If an agreement can not be made, a democratic leader will
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!