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3 years ago

The following information is from the annual financial statements of Nancy Company.

Business

1 answer:

lakkis [162]3 years ago

5 0

Answer:

5.79 times

Explanation:

The computation of the Accounts receivable turnover ratio

= Credit sales ÷ average accounts receivable

where,

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($46,400 + $49,700) ÷ 2

= $48,050

And, the net credit sale is $278,000

Now put these values to the above formula

So, the answer would be equal to

= $278,000 ÷ $48,050

= 5.79 times

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Answer:

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Explanation:

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skelet666 [1.2K]

Answer:

The formula is not used if consumer demand and ordering and holding costs are not constant.

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Askew Company uses a periodic inventory system. The June 30, 2021, year-end trial balance for Askew company contained the follow

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Answer:

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So, the cost of goods sold is

= $32,000 + $241,000 - $40,000

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We simply applied the above formula so that the cost of goods sold could come

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