Calculate the company inventory turnover ratio

Assignment Help Accounting Basics
Reference no: EM131766658

Question - Blanchard, Inc. provided the following for 2017:

Cost of Goods Sold (Cost of sales)      $1,200,000 Beginning Merchandise Inventory 325,000 Ending Merchandise Inventory 625,000

Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.)

3.69 times per year

2.53 times per year

1.92 times per year

1.26 times per year

Reference no: EM131766658

Questions Cloud

Predict what will be the focus of course ten years from now : Thinking about the subjects addressed in this course, predict what will be the focus of this course 10 years from now. Explain your rationale.
What are the researchable populations in area of practice : What are the researchable populations in your area of practice? Which would be most appropriate for use in your research study?
What is the amount of ending inventory on december : What is the amount of ending inventory on December 31 if the company uses the first-in, first-out (FIFO) inventory costing method
Describe the intended setting for the doctoral project : Summarize preliminary, supporting evidence that provides justification that this problem is meaningful and relevant to the local setting.
Calculate the company inventory turnover ratio : Blanchard, Inc. provided the following for 2017: Calculate the company's inventory turnover ratio for the year
How new roles being adopted by emergency manager can be used : Discuss how the new roles being adopted by emergency managers can be used to encourage sustainable recovery. Provide specific examples.
How many total units should be budgeted for production : They desire to have 180 units on hand at the end of February. How many total units should be budgeted for production in January and February
Recycling picks up recyclables from homeowners : WasteNot Recycling WasteNot Recycling picks up recyclables from homeowners in Boulder, Colorado. Neighborhoods subscribe to the service
Determine the bonds issue price on january : For each of the following three separate situations, determine the bonds issue price on January 1, 2013 & prepare the journal entry to record their issuance

Reviews

Write a Review

Accounting Basics Questions & Answers

  The balance sheet is the cornerstone of the financial

the balance sheet is the cornerstone of the financial statements. the sec has always wanted and expected more

  Organizations use a variety of performance measures to

organizations use a variety of performance measures to evaluate managers. central to the idea ofresponsibility

  Based on the data presented above what is the number of

balance sheet and income statement data indicate the following based on the data presented above what is the number

  Multiple-step income statement

On a multiple-step income statement, gain or losses on sale of equipment would be shown:

  Compute the cost of goods available for sale

Explain whether the transportation cost included in each purchase should be recorded as a cost of the inventory or immediately expensed. Compute the Cost of Goods Available for Sale, Cost of Goods Sold, and Cost of Ending Inventory using the first-in..

  An investor purchased 549 shares of common stock 2700 par

an investor purchased 549 shares of common stock 27.00 par for 49.00. subsequently 95 shares were sold for 60.00 per

  Schedule of cash collections

Sugarland Company sells a single product and anticipates opening a new facility in Charlotte on May 1 of the current year. Expected sales during the first three months of activity are: May, $60,000; June, $80,000; and July, $85,000. Thirty percent..

  Debit to interest expense

The journal entry required on the company'sbooks to record the interest paid on December 31, 2009, would include a debit to interest expense of?

  Perform professional duties in accordance with relevant laws

Perform professional duties in accordance with relevant laws, regulations, and technical standards. Provide decision support information and recommendations that are accurate, clear, concise, and timely.

  Microsoft corporation presents its income statement in a

microsoft corporation presents its income statement in a variety of formats using both the currencies and the

  How much total rental income must sarah report the year

Ricky has rented a house from Sarah since last year. The rent is usually $800 per month, but Sarah reduced the monthly rent down to $600 for all 12 months. How much total rental income must Sarah report this year?

  What is meant by accumulated other comprehensive loss

Explain why the common stock is classified as part of the stockholders' equity. Explain what is meant by "Accumulated other comprehensive loss."

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd