All categories

3 years ago

SCC Co. reported the following for the current year:

Business

1 answer:

Juli2301 [7.4K]3 years ago

5 0

Answer:

a. The inventory turnover is 8.00 times

b. The days’ sales in inventory is 68 days

Explanation:

a. In order to calculate the inventory turnover we would have to use the following formula:

inventory turnover=cost of goods sold/average inventory

inventory turnover=$ 48,800/($3,100+$ 9,100)/2

inventory turnover=8.00 times

b. In order to calculate thedays’ sales in inventory we would have to use the following formula:

days’ sales in inventory=(Ending invenory/cost of goods sold)*365

days’ sales in inventory=($9,100/$48,800)*365

days’ sales in inventory=68 days

You might be interested in

Calculate the simple interest you would receive in one year on a savings account that earns 5% annual interest. your beginning b

cupoosta [38]

The simple interest formula:
I = P * r * t,
where:
I - interest,
P - investment,
r - interest rate,
t - time ( in years )
P = $255.19, r = 5% = 0.05, t = 1
I = $255.19 * 0.05 * 1 = $12.7595 ≈ $12.76
Answer: The simple interest you would receive in 1 year is $12.76.

8 0

3 years ago

An insured has a primary group health plan and an excess plan, each covering losses up to $10,000. The insured suffered a loss o

KATRIN_1 [288]

Answer:

excess plan pay $5000

Explanation:

given data

each covering losses = $10,000

insured suffered a loss = $15,000

solution

we get here excess plan pay that is express as

excess plan pay = insured suffered a loss - each covering losses ....................1

put here value and we get excess plan pay that is

excess plan pay = $15,000 - $10,000

excess plan pay = $5,000

5 0

3 years ago

While sitting beside a swimming pool, your neighbor Bob, a roof installer, tells you that you should buy stock in HotNet because

Nesterboy [21]

Answer: d) Cannot sue Bob for misrepresentation

Explanation: A misrepresentation is a false statement made from one person to another that a certain fact is true or accurate when it is indeed false. The fact that the value of the stock I bought on Bob's opinion does not give me the right to sue him for misrepresentation (intentional). The reason is this, Bob's expression of his opinion concerning the HotNet stock does not usually constitute a misrepresentation even when it turns out that his opinion is incorrect. It wasn't intended, however, he could be sued for negligent misrepresentation.

8 0

3 years ago

Marginal cost is equal to average total cost when a. average variable cost is falling. b. marginal cost is at its minimum. c. av

atroni [7]

Answer: C

Explanation: average total cost is at its minimum

3 0

2 years ago

Suppose the country of Stan has fixed its exchange rate to the dollar. The official exchange rate is 0.50 U.S. dollars per rupee

In-s [12.5K]

Answer and Explanation:

1. At 0fficial exchange rate:

100 * 0.5 = $50

what I want to buy would be purchased at $50

at market exchange rate:

0.25 x 100 = $25

products bought from this place are not a good deal as I am paying more than the market exchange rate.

2. at equilibrium exchange rate:

100 x 0.25% = $25

the price is $25

3. from answers 1 and 2, I will not want demand Stan's rupees. the products are costly to get.

4. Stan's currency is obviously overvalued. the people from this country now has increased purchasing power so they can purchase goods in dollars, therefore they would be supplying their currency.

5. They will have to buy up the surplus of rupees so that they can easily keep up with maintaining the rupee at half a dollar.

8 0

4 years ago