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wlad13 [49]
3 years ago
12

The following information was available for Pina Colada Corp. at December 31, 2022:

Business
1 answer:
dexar [7]3 years ago
6 0

Answer:

37.51 days

Explanation:

Use the following formula to calculate the Inventory Turnover ratio

Inventory Turnover ratio = Cost of goods sold / Average Inventory

Where

Cost of goods sold = $763,805

Average Inventory = ( Beginning Inventory + Ending Inventory ) / 2 = ( $93,000 + $64,000 ) / 2 = $78,500

Placing values in the formula

Inventory Turnover ratio = $763,805 / $78,500

Inventory Turnover ratio = 9.73

Inventory Days = Numbers of days in a year / Inventory Turnover ratio = 365 / 9.73 = 37.51 days

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Answer:

Accounting rate of return = 20.53%

Explanation:

<em>The accounting rate of return is the average annual income expressed as a percentage of the average investment.</em>

The simple rate of return can be calculated using the two formula below:

Accounting rate of return

= Annual operating income/Average investment × 100

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Accounting rate of return = 20.53%

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3 years ago
Which of the following statements are TRUE about credit scores?
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Carol Bates, a young, dynamic, and affluent banker, likes to shop online and try out new products. She likes to keep herself upd
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<h2>"Innovative" traits best describes Carol</h2>

Explanation:

Based on the given statement, Carol Bates is very much interested in grabbing the latest gadgets. It means that,

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3 years ago
You are writing a proposal to restructure your department's organizational chart. Your manager was a member of the committee tha
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Answer:

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4 years ago
Which is NOT one of the similarity between projects and operations Both are Performed by Individuals Both are Limited by constra
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Answer:

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