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PolarNik [594]
3 years ago
15

At the beginning of the year, American International had inventory worth $325,500 at cost. At the end of the year, the cost valu

e of the inventory was $540,250. If annual cost of goods sold was $1,978,250 find the inventory turnover at cost for the year. (Round your answer to the nearest tenth) Group of answer choices
Business
1 answer:
Lesechka [4]3 years ago
8 0

Answer:

Inventory turnover= 4.57

Explanation:

<u>To calculate the inventory turnover, we need to use the following formula:</u>

Inventory turnover= Cost of goods sold/ average inventory

Average inventory= (beginning inventory + ending inventory) / 2

Average inventory= (325,500 + 540,250) / 2

Average inventory= 432,875

Inventory turnover= 1,978,250 / 432,875

Inventory turnover= 4.57

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3 years ago
When examining the​ Fed's balance​ sheet, in most​ periods, the two most important assets ​are: A. U.S. Treasury securities and
Allushta [10]

Answer: D. U.S. Treasury securities and Discount loans to banks.

Explanation: When examining the​ Fed's balance​ sheet, in most​ periods, the two most important assets ​are U.S. Treasury securities and Discount loans to banks. The Fed's balance sheet balance sheet includes a large number of distinct assets and liabilities containing a great deal of information about the scale and scope of its operations. Of these assets the U.S. Treasury securities and Discount loans to banks are paramount.

U.S Treasury securities are such as bills, notes and bonds issued by the U.S. government viewed as having virtually no credit risk. As such, they are debt obligations of the U.S. government.

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5 0
3 years ago
Perez Corporation’s computer services department assists two operating departments in using the company’s information system eff
ollegr [7]

Answer:

Production department $440,000

Sales department $143,000

Explanation:

The allocation of the total cost to the operating departments is proportional to the number of employees. In other words, as the number of employees increases, so does the allocated cost and vice versa.

Hence,

Cost allocated to the production department

= 40/(40 + 13) × $583,000

= 40/53 × $583,000

= $440,000

Cost allocated to the sales department

= 13/(40 + 13) × $583,000

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3 years ago
What are keywords? in a paragraph pls
oksian1 [2.3K]

Answer:

like what key words the key words I know are she he I him her your you are yours us we names they them themselves and I think that's it

7 0
2 years ago
Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of u
Allushta [10]

Answer:

The variable costing unit product cost was <u>$69.</u>

Explanation:

Variable Product Costing is a situation whereby only the variable costs of production is taking into account to estimating the cost per unit of a product. This implies that none of the fixed cost will be included in the cost of the product.

Based on the explanation above, the variable costing unit product cost to produce a single product by Kray Inc. can be calculated as follows:

Kray Inc.

Calculation of Variable Costing Unit Product Cost

<u>Particulars                                                          Amount ($)     </u>

Direct materials                                                        40

Direct labor                                                               19

Variable manufacturing overhead                           8

Variable selling and administrative expense     <u>     2      </u>

Variable cost per unit                                          <u>     69     </u>

Therefore, the variable costing unit product cost was <u>$69.</u>

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3 years ago
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