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rusak2 [61]
2 years ago
6

Zhang Company reported Cost of goods sold of $835,000 and ending Inventory of $41,750. The Days' sales in inventory (rounded to

whole days) is:_______
a. 7 days.
b. 418 days.
c. 56 days.
d. 18 days.
e. 20 days.
Business
1 answer:
vazorg [7]2 years ago
8 0

Answer:

d. 18 days.

Explanation:

The Days' sales in inventory measures the number of days taken to sell inventory in a period.

The Days' sales in inventory formula is provided below:

Days Sales of Inventory = (Ending Inventory / Cost of Goods Sold) x 365

Ending inventory=$41,750

cost of goods sold =$835,000

Days Sales of inventory=($41,750/$835,000)*365

Days Sales of inventory=18.25 (18 when rounded to whole day)

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sleet_krkn [62]

Answer:

A. $191,818

B. $303

C. Loss; $11,515

Explanation:

A. Calculation to determine what The adjusted basis of the asset at the end of 2019 is

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Less Greater of allowed and allowable cost recovery:

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B. Calculation to determine what The cost recovery deduction for 2020 is

Cost recovery deduction for 2020= ($200,000 x .03636 x 0.5 / 12)

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C. Calculation to determine what The____on the sale of the asset in 2020 is

Based on the information given we would be using 0.3636 as the percentage for 27.5-year assets.

Cost of asset $200,000

Less Greater of allowed and allowable cost recovery:

2018 $910

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($910+$7,272=$81,82)

Adjusted basis of the asset at the end of 2019 $191,818

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Less Cost recovery for 2020 $303

($200,000 * .03636 * 0.5 / 12)

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($191,818-$303)

Loss on sale of asset ($11,515)

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Therefore The LOSS on the sale of the asset in 2020 is $11,515

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Answer:

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