Answer:
a.
i. 4.7 times
ii. 77.1 days
b
i. 7 times
ii. 52.1 days
Explanation:
Inventory turnover = cost of goods sold / average inventory
average inventory for 2016 = ( 87,750 + 92,500 ) / 2 = $90,125
Inventory turnover $426,650 / $90,125 = 4.7 times
Days' sales in inventory = 365 / inventory turnover = 77.1 days
for 2017
inventory turnover = cost of goods sold / average inventory
average inventory for 2017 = ( 97,400 + 87,750 ) / 2 = $92,575
Inventory turnover $643,825 / $92,575 = 7.0 times
Days' sales in inventory = 365 / inventory turnover = 52.1 days
Could you include the answers?
Financial aid it helps pay for things kids need
Answer:
d. $248,000
Explanation:
beginning cash balance 27,000
operating activities 351,000
investing activities (420,000)
financing 250,000
cash generate during the year 181,000
ending cash balance 208,000
<u>Note:</u>
The information of the sale of land is contained with the investment activities.
The proceeds from sales are in the operating activities.
<u>We just need to calculate using the total for each activity.</u>
