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Maksim231197 [3]
2 years ago
15

Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its ye

ar-end inventory Inventory Quantity Unit Cost NRV Ski Jackets 20 $115 $95 Skis 25 300 350Calculate the total amount to be reported for ending Inventory. Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Ski jackets 20 $ 115 $ 2,300Skis 25 300 7500Use the following information: Net sales $250,000Cost of goods sold 180,000 Beginning inventory 55,000Ending inventory 45,000 a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.) Inventory turnover ratio _______ times b. Calculate the average days in Inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) Average days in inventory ______ days c. Calculate the gross profit ratio. Gross profit ratio ________ %
Business
1 answer:
Paul [167]2 years ago
3 0

Answer:

Inventory           Quantity       Unit Cost     NRV

Ski Jackets          20                 $115           <u>$95</u>

Skis                      25               <u>$300</u>          $350

Ending inventory = (20 x $95) + (25 x $300) = $9,400

a) inventory turnover ratio = cost of goods sold / average inventory = $180,000 / [($55,000 + $45,000)/2] = $$180,000 / $50,000 = 3.6

b) average days in inventory = 365 / inventory turnover = 365 / 3.6 = 101.39 days

c) gross profit ratio = gross profit / net sales = ($250,000 - $180,000) / $250,000 = $70,000 / $250,000 = 0.28 = 28%

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In this question,  I would have to claim the contrary. Most laws were drafted by attorneys or judges, etc. These individuals utilized legal philosophy to justify or justify the bills which we presented. Instances are indeed the criminal code: Why then is insanity defending several crimes?? As a rule, criminal culpability can be granted if there is a criminal view. The theory for insanity as an excuse is that he had no power or just didn't need to do the crime, but he did the crime without a convict. Its logic leads lawmakers and make allowances, for instance, insanity, of criminal liability.

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As for myself, I was only hoping how an adverse usage case would've been filed over a rather long time with no refund of the copyright or royalty to get a patented or permitted content used by the claimant without the applicant's consent.

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