The Inventory Turnover Ratio, which can be calculated by dividing the cost of goods sold by the average inventory balance, can be used to measure how long a company keeps inventory before selling it.
Businesses may make better judgments in a range of areas, such as pricing, production, marketing, purchasing, and warehouse management, by measuring and calculating inventory turnover. In the end, the inventory turnover ratio measures how well the business makes sales from its inventory.
Inventory Turnover Ratio = Cost of Goods Sold / Avg. Inventory
Average inventory = (beginning inventory + ending inventory) / 2
The inventory turnover ratio calculates how frequently inventory is sold and replaced during a specific time frame.
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Answer:
Evans Company
General Journal
Part a.
Debit : Cash $645
Debit : Cost of goods sold $375
Credit : Sales Revenue $645
Credit : Merchandise $375
Part b.
Debit : Cash $432
Debit : Cost of goods sold $195
Credit : Sales Revenue $432
Credit : Merchandise $195
Part c.
Debit : Accounts Receivable $670
Debit : Cost of goods sold $438
Credit : Sales Revenue $670
Credit : Merchandise $438
Part d.
Debit : Credit Card fees $85
Credit : Cash $85
Explanation:
The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.
Answer:
A. Gross Domestic Product
Explanation:
The gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
Gross domestic product can be calculated in 3 ways:
1. Expenditure approach
2. National output
3. National income
Expenditure approach = Consumption spending by households + Investment spending + Government Spending + Net Export
I hope my answer helps you
Answer:
Increase
Explanation:
Operating income is a company's profit after deducting operating expenses which are the cost of running operations daily.
When the product line 2 is dropped cost of running operations will reduce thereby increasing the operating income.
This question can be found on the test for Boater Safety. The PFDs that can be considered to be readily accessible are those worn by passengers, those kept in open bins near a passengers seat, and the ones that can be grabbed quickly by anyone on board. The PFDs that are not considered to be readily accessible would be any that are sealed in their original plastic bags. The PFDs must be put on in a reasonable amount of time during an emergency.
