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
irinina [24]
3 years ago
14

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
sabrina company recorded an adjusting entry for salaries owed to employees at the end of the year. as a result of this entry, sa
mafiozo [28]

Sabrina Company recorded an adjusting entry for salaries owed to employees at the end of the year. As a result of this entry, Sabrina Company's equity decreases and liabilities increase.

<h3>What is equity?</h3>

Equity in finance refers to ownership of assets that may be accompanied with debts or other liabilities. Liabilities are subtracted from asset value to calculate equity for accounting reasons.

<h3>What is liabilities?</h3>

A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.

To learn more about liabilities visit:

brainly.com/question/15006644

#SPJ4

4 0
1 year ago
Which of the following does not represent a copyright?
Margarita [4]

Answer choreographing a dance step by step

4 0
3 years ago
Based on the HEADLINE article titled "Inflation and the Weimar Republic," which of the following is the best illustration of the
WINSTONCH [101]

Answer: Businessmen traveling around the country found themselves borrowing funds from their customers each stage of the way. The cash they'd allocated for the entire trip barely sufficed to pay the way to the next stop."

Explanation:

Inflation is when there is a general increase in the prices of goods and services on the economy.

The best illustration of the wealth effect of inflation based on the article titled "Inflation and the Weimar Republic," is that businessmen traveling around the country found themselves borrowing funds from their customers each stage of the way. The cash they'd allocated for the entire trip barely sufficed to pay the way to the next stop."

This is because when there is inflation, theee will be rise in price and hence, the money the businessmen wanted to use won't be enough to get meet their needs hence they'll need more funds.

5 0
3 years ago
What is a possible use for a genetic fingerprint? i. to identify is someone was present at a crime scene. ii. to identify if two
brilliants [131]

What is a possible use for a genetic fingerprint is: i. to identify if someone was present at a crime scene.

<h3>What is  genetic fingerprint?</h3>

Genetic fingerprint can be defined as a fingerprint that help to detect the deoxyribonucleic acid (DNA)  traits or feature a person inherit.

Most crime investigator tend to make use of Genetic fingerprint when investigation a crime scene event so as to detect and identify the person who committed the crime through the use of genetic fingerprint they found in the crime scene.

Therefore What is a possible use for a genetic fingerprint is: i. to identify if someone was present at a crime scene.

Learn more about Genetic fingerprint here:brainly.com/question/27762372

#SPJ1

6 0
2 years ago
Jordan plans to open a computer repair business this summer. As he plans, he writes down the long-term goals of the business so
Zarrin [17]

Answer:

D) Establish the mission, vision, and values statements

Explanation:

A mission statement is a short written description of what is the purpose of your company, or why does it exist. The mission statement usually includes the company's capabilities, what unsatisfied needs will the company satisfy, and activities will be carried out to satisfy their customers' needs.

The mission statement is the cause (before) and the vision statement is the effect (after). The vision statement should describe the long term goals that your company should accomplish. It serves as a guide to where you want to be in the future.

The value statements should describe how Jordan values his own business (including employees), his customers (including the community) and his suppliers. The values statements serve as a guide on how Jordan and his employees should behave within the business.

5 0
3 years ago
Other questions:
  • Jasmine Smith owns a condo worth $240,000, a car valued at $25,000, and miscellaneous assets worth $7,500. She owes $185,000 on
    5·1 answer
  • Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivab
    12·1 answer
  • _______________________ are economists who generally emphasize the importance of aggregate supply in determining the size of the
    12·1 answer
  • United Van Lines purchased a truck with a list price of $250,000 subject to a 6% discount if paid within 30 days. United Van Lin
    11·1 answer
  • How much automation used to be in restaurant in 1950s?
    5·1 answer
  • Rossi Company has a defined-benefit plan. At the end of 2015, it has determined the following information related to its pension
    11·1 answer
  • For each of the following cash flows amounts ($ millions), identify whether the company is in the introduction, growth, maturity
    10·1 answer
  • Promoting college and career readiness, influencing the achievement of a shared goal, and assuming the responsibilty for the cre
    9·1 answer
  • An institution must permit a student to review his records within how many days from the day the student requests the review
    11·1 answer
  • What is the importance of international law to businesses engaged in international trade?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!