Company inventory turnover ratio

Assignment Help Accounting Basics
Reference no: EM13151876

Bowa Construction's days sales outstanding is 50 days (on a 365-day basis). The company's accounts receivable equal $100 million and its balance sheet shows inventory equal to $125 million. What is the company's inventory turnover ratio?

  • 5.84
  • 4.25
  • 3.33
  • 2.75
  • 7.25

Reference no: EM13151876

Questions Cloud

Which of following statements best describes dna polymerase : which of the following statements best describes DNA polymerase?
Cost per pair of skis and bindings : Using the estimated sales and production of 10,000 pairs of skis as the expected volume, the accounting department has developed the following cost per pair of skis and bindings:
Does average ratio deviate from hypothesized ratio : Other questions we might want to ask about pooling similar populations: Do all the subpopulations have the same ratio of yellow to green seeds? Does the average ratio deviate from our hypothesized ratio?
How much heat is gained (in joules) by the water : How much heat is gained (in Joules) by the water where a chemical reaction takes place in 100 mL aqueous solution and has a temperature increase of 14 C?
Company inventory turnover ratio : Bowa Construction's days sales outstanding is 50 days (on a 365-day basis). The company's accounts receivable equal $100 million and its balance sheet shows inventory equal to $125 million. What is the company's inventory turnover ratio?
Develop a choice table for interest rates : If George assumes the used radiator will last 3 years, but will need to be replaced so he can sell the car, which should he buy? Develop a choice table for interest rates from 0% to 50%. George's interest rate on his credit card is 20%.
How many grams of mgo are produced : Consider the following equation: 2Mg(s) + O2 (g) → 2MgO(s). How many grams of MgO are produced when 40.0 grams of O2 react completely with Mg?
How did it affect the banks that lent the money : Inflation during the 1970s was much higher than most people had expected when the decade began. How did this affect home-owners who obtained fixed-rate mortgages during the 1960's? How did it affect the banks that lent the money?
What to conclude when the specification has not been met : The specification that true average penetration be at most 50 mils. They will be used unless it can be demonstrated conclusively that the specification has not been met. What would you conclude?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Percent of the invoices

A study of a company's practice regarding payment of invoices revealed that an invoice was paid an average of 20 days after is was received. The standard deviation equaled five days.Assuming that the distribution is normal, what percent of the inv..

  Allowance for doubtful accounts credit balance

It is estimated that 4% of credit sales will be uncollectible. What adjusting entry will Manning Company make if the Allowance for Doubtful Accounts has a credit balance of $1,485 before adjustment?

  Cost of merchandise sold for the year

A company, using the periodic inventory system, has merchandise inventory costing $175 on hand at the beginning of the period. During the period, merchandise costing $635 is purchased. At year-end, merchandise inventory costing $160 is on hand. Th..

  What is the target cost

Ports Pans is considering the production of a new line of pottery. Based on preliminary market research, management has decided that each pot should be priced at $60. Furthermore, management believes that the profit margin should be 40 percent of ..

  What is the ending balance of goods in process inventory

The production department started the month with the beginning goods in process inventory of $350,000. During the month, it was assigned the following costs: direct materials, $192,000; direct labor, $90,000; overhead applied at the rate of 30% of..

  Entries for stock dividends

Journalize the entry to record the declaration of the dividend, cpaitalizing an amount equal to market value. Journalize the entry to record the issuance of the stock certificates.

  Equivalent units of production for conversion costs

The number of equivalent units of production for conversion costs for the period was

  Fiscal year and total liabilities

If owner's equity increased $20,000- during the fiscal year and total liabilities increased $12,000- during the same period, what happened to the assets?

  Tax court appeal

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision of the Tax Court. Which one of the following is true?

  Straight-line depreciation for a capital project

Phyllis believes that the firm should use straight-line depreciation for a capital project because it results in higher net income during the early years of the project's life.

  Prepare quarterly adjustment entries in excel

The ledger of Welch Rental Agency Inc. on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.

  How is iris corporation taxed on the distribution

Iris Corporation owns 30% of Fresia Corporation's stock. On November 15, Fresia Corporation, with current E & P of $320,000, distributes land (fair market value of $100,000; basis of $160,000) to Iris. The land is subject to a liability of $80,000..

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