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Question - Assuming a? 360-day year, calculate what the average investment in inventory would be for a? firm, given the following information in each case.
a. The firm has sales of $800,000?, a gross profit margin of 14 ?percent, and an inventory turnover ratio of 6.
b. The firm has a? cost-of-goods-sold figure of $400,000 and an average age of inventory of 50 days
c. The firm has a? cost-of-goods-sold figure of $1.3 million and an inventory turnover rate of 5.
d. The firm has a sales figure of $28 ?million, a gross profit margin of 18 ?percent, and an average age of inventory of 45 days.
Giovanni applied for a loan which amounts to P 70, 000.00 in a corporation which deals 5% compounded bimonthly. Find how much interest he was charged
Explain three audit procedures that are used by the auditors to search for subsequent events. Describe the two general types of subsequent events
Juan, who is single, is a self-employed carpenter as well as an employee of Frame It, Inc. How much of Juan self-employment taxes would be deductible
What were the most compelling topics learned in this course - How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?
When questioned by the auditors, the CFO of ABC Inc. mentioned, "An asset is just an expense waiting to happen." Discuss the validity and implications of this statement.
What are some of the accrued expenses that would have a positive or negative impact on cash flow? Specifically referencing cash flow from operating activities
Mc Johnson Company estimates that annual manufacturing overhead costs will be $900,000. What is the predetermined overhead rate for each activity base
Evaluate your company's short-term liquidity. Did the ratios improve or deteriorate over time? Regardless of whether the ratios improved or deteriorate
What is meant by a product's contribution margin ratio explain with example and briefly explain
Which is not one of the approaches for reporting accounting changes? The modified retrospective approach. / The prospective approach.
The initial proceeds per bond, the size of the issue, the initial maturity of the bond, Determine the total discount or premium for each issue
Davos Company performed services on account for $160,000.00 in 2016. Davos collected $120,000.00 cash from accounts receivable during 216, and the remaining $40,000.00 was collected in cash during 2017.
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