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Margarita [4]
3 years ago
6

The following information was available for Kingbird, Inc. at December 31, 2017: beginning inventory $70000; ending inventory $1

08000; cost of goods sold $644000; and sales $888000. Kingbird inventory turnover ratio in 2017 was
Business
1 answer:
photoshop1234 [79]3 years ago
5 0

Answer:

Inventory turnover ratio = 7.2 times

Explanation:

Given:

Beginning inventory = $70,000

Ending inventory = $108,000

Cost of goods sold = $644,000

Sales = $888,000

Find:

Inventory turnover ratio

Computation:

Average inventory = [Beginning inventory + Ending inventory] / 2

Average inventory = ($70,000 + $108,000) / 2

Average inventory = $89,000

Inventory turnover ratio =  Cost of goods sold / Average inventory

Inventory turnover ratio = $644,000 / $89,000

Inventory turnover ratio = 7.2 times

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Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $
Vlad1618 [11]

Answer:

c. 10.38%

Explanation:

Loan Amount = $10,000

Quarterly Interest payment = $250

Interest Payment for the year = $250 x 4

Interest Payment for the year = $1,000

Nominal interest rate = ($1,000 / $10,000) x 100 = 10%

Nominal interest rate = r = 10%

Number of periods = m = 4

Effective Interest rate = [ ( 1 + r/m )^m]-1

Effective Interest rate = [ ( 1 + 0.1/4 )^4] -

Effective Interest rate = [ ( 1 + 0.025 )^4] -1

Effective Interest rate = 10.38%

6 0
3 years ago
Initially, suppose Bellissima uses 1 million hours of labor to produce rye and 3 million hours to produce jeans, while Dolorium
vodka [1.7K]

Answer:

Bellisima's opportunity cost:  

Production of rye per million hours of labor = 24 / 12 = 2 pairs of jeans

Production of jeans per million hours of labor = 12 / 24 = 0.5 bushels of rye

Dolorium's opportunity cost:  

Production of rye per million hours of labor = 32 / 8 = 4 pairs of jeans

Production of jeans per million hours of labor = 8 / 32 = 0.25 bushels of rye

Dolorium has a comparative advantage in the production of jeans while Bellisima has a comparative advantage in the production of rye.

If both countries specialize:

Bellisima will produce 48 million bushels of rye.

Dolorium will produce 128 million pairs of jeans.

Total production of rye has increased by 12 million bushels.

Total production of jeans has increased by 24 million pairs.

4 0
2 years ago
Last year Canada’s economy had a surge in exports and increased demand for additional economic outputs. Because of the great dem
Artyom0805 [142]

Answer:

Neoclassic economists believe that both wages and prices are sticky (hard to change) only  int he short run. In the long run, both prices and wages will adjust to new economic conditions.

In this particular case, neoclassic economists will predict that even though wages are starting to rise, in the long run the equilibrium wage will be higher.

Long run and short run are economic concepts that do not refer to a given time period, e.g. long term in accounting means more than 1 year, but long run in economics may take years to come.

Long run refers to the amount of time it takes for an economic variable to adjust to economic changes.

If Canada's increase in labor costs is paired with an increase in productivity (usually new technologies), then the economy should be able to grow since private consumption and investment will increase due to higher wages.

Explanation:

6 0
2 years ago
The financial statements of the imagine company report net sales of $1,000,000 and accounts receivable of $700,000 and $300,000
Viefleur [7K]
The answer is 2 times.
 
Accounts recievable turnover ratio = net sales / average accounts recievable

=1,000,000 ÷ (700,000+300,000 ÷ 2)
8 0
2 years ago
Java Jane's first coffeehouse was very successful due to the unique flavors, on-site baked goods, and inviting ambiance. The own
Basile [38]

Answer:

A contractual marketing system

Explanation:

Java Jane's most likely adopted a contractual marketing system.The contractual system is a vertical marketing system in which all the companies involved tend to work independently as individual entities. Regardless of working independently, they also work together to achieve greater goals and efficiencies.

They are also known as value-added partnerships since they work hand in hand to create value for other entities that are involved

8 0
3 years ago
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