1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AveGali [126]
3 years ago
15

Target Corporation reported the following information in a recent Form 10-K. Consolidated Statement of Operations ($ millions) F

Y 2016 Cost of sales $67,596 Consolidated Statement of Financial Position ($ millions) FY 2016 FY 2015 Inventory $10,321 $8,282
What is the (a) inventory turnover ratio, and (b) average days in inventory, for the fiscal year ended January 30, 2016?
Business
1 answer:
lisabon 2012 [21]3 years ago
7 0

Answer: See explanation

Explanation:

a. inventory turnover ratio

This will be calculated as:

= Sales cost / Average inventory

= $67,596 / $9301.50

= 7.2672

= 7.27

(b) average days in inventory.

This will be calculated as:

= 365 days / Inventory turnover ratio

= 365 / 7.27

= 50.20

= 50 days

Note:

Average inventory = ($10,321 + $8,282) / 2 = $9301.50

You might be interested in
An accounting professor at Middleton University devotes 60 percent of her time to teaching, 30 percent of her time to research a
rewona [7]

Answer:

Middleton University

Activity Cost of Instruction per student in the introductory and graduate financial accounting courses:

Total Instruction cost   $57,600

Number of students  = 65 (40 + 25)

Instruction per student = $57,600/65 = $886.15

Explanation:

a) Data and Calculations

Activities:                           Time Spent   Activity Cost Introductory Graduate

Course preparation                30%        $28,800         $17,723       $11,077

Classroom instruction            60%        $57,600       $35,446      $22,154

Appointments with students  10%          $9,600         $5,908       $3,692

Annual salary                                         $96,000      $59,077      $36,923

b) The activities are three for each of introductory and graduate courses.  The cost (annual salary) of the professor is allocated according to the time spent on each activity.  This cost is further allocated between the introductory and graduate classes according to the number of students in each course.  Overall, the same amount per each activity is spent on each student in both courses.

7 0
3 years ago
How does income inequality affect American taxpayers
nikdorinn [45]
If the tax system in the US is progressive, then those with lower income will pay proportionally less than those with higher income as the latter will have a higher tax rate but in fact the rich people usually have or find a lot of tax loopholes to reduce their taxes so may still not be paying a fair share of their taxes compared to the poor people who don't have these loopholes.
3 0
3 years ago
Robots
inysia [295]

Based on the PPC given, the points given would represent the following:

  • Point B = Efficient use of resources.
  • Point X = Impossible use of resources.
  • Point A = Underutilized resources.

<h3>What do points on the PPC represent/</h3>

Points on the curve represent the efficient usage of resources because they show that all available resources are being used. Points B, C, and D are therefore all efficient.

Point X is impossible because all points outside of the PPC are not attainable due to a lack of resources. Point A shows that the available resources are not being fully utilized.

Options to describe the points:

  • Efficient use of resources
  • Under utilized resources
  • Economic growth
  • Trade-off
  • Opportunity cost

Find out more on the PPC at brainly.com/question/2617319.

#SPJ1

3 0
2 years ago
Child Play Inc. manufactures electronic toys within a relevant range of 20,000 to 150,000 toys per year. Within this range, the
Ray Of Light [21]

Answer:

Toys produced                40,000         80,000           120,000

Total costs:

Total variable costs      $720,000     $1,440,000     $2,160,000

Total fixed costs           $600,000      $600,000        $600,000

Total costs                   $1,320,000   $2,040,000     $2,760,000

Cost per Unit

Variable cost                   $18                   $18                     $18

Fixed cost                        $15                  $7.50                   $5

Total cost                        $33                 $25.50               $23

Fixed costs do not change with total output, they are the same regardless so the number of units produced. Variable costs change proportionally to any change in total output. If total output increases, variable costs will increase.

3 0
3 years ago
A partnership liquidation occurs when a.a new partner is admitted b.the ownership interest of one partner is sold to a new partn
Sloan [31]

Answer:

Correct answer is d, the assets are sold, liabilities paid and business operations terminated

Explanation:

The partnership liquidation occurs when the day-to-day operation is closed for good. Part of liquidation's process is to sold the partnership's assets and paid all creditors (outside and partners) and divide the excess to the partners based on the profit and loss ratio or if there is still existing obligation to the creditors, the partners will pay it using their personal assets (applicable to general partner only). This stage, the life of the partnership ceased to exist.

4 0
3 years ago
Other questions:
  • Your opening a savings account that earns compound interest which compounding frequency will earn me the most money? A.compoundi
    12·1 answer
  • An effect of transportation improvements on settlements was that
    7·2 answers
  • Chang Co. issued a $54,300, 120-day, discounted note to Guarantee Bank. The discount rate is 9%. Assuming a 360-day year, the ca
    9·1 answer
  • Fv fnhbcxghjvpointsvfhbvgfchnxcjhvcjmncvhbxdxdxdxdxxdxdd
    6·2 answers
  • What is the majority of our federal budget devoted to? (What
    10·1 answer
  • A person who scored very high in the Social category of a Career Interest Assessment would be best suited for which of the follo
    8·1 answer
  • Alta Loma Industries has three product lines, A, B, and C. The following information is available: A B C Sales $100,000 $90,000
    12·1 answer
  • Which of the following statement best describes about quantitative research method.
    15·1 answer
  • 1. Describe three different types of cash receipts that a business may record. Also identify the
    10·1 answer
  • Larry values attending NoName at 15000 per year. What is Larry;s economic surplus if he attends state college
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!