Compute the inventory turnover

Assignment Help Accounting Basics
Reference no: EM133150141

Question - Selected data for Lisa's Store appear below.

 

2020

2019

Net sales

$810,000

$550,000

Cost of goods sold

623,700

366,000

Inventory at end of year

67,925

88,000

Accounts receivable at end of year

154,000

116,000

Required - Compute the inventory turnover for 2020.

Reference no: EM133150141

Questions Cloud

Analyze how benefits-costs and risks impacted negotiation : Prepare a paper describing a negotiation in which you have participated. Analyze how benefits, costs, and risks impacted the negotiation.
What is the discounted or present value of the ship : You would like to receive $14,500,000 for the ship. Assuming the opportunity cost is 7.5%, what is the discounted or present value of the ship
What is the npv : The net cost of the new machine is $66,000. The annual cash flows have the following projections. If the cost of capital is 12 percent, what is the NPV
Is performance improving or worsening : Is performance improving or worsening? Drivers of differences between your two companies? Do the results align with your company's strategy.
Compute the inventory turnover : Question - Selected data for Lisa's Store appear below - Compute the inventory turnover for 2020
Multinational merger or acquisition : What are your conclusions in assessing this multinational merger or acquisition?
How long will you have to wait : You are willing to save annually $80000 to fulfill your desire. How long will you have to wait if your savings earn a return of 14 % per annum
Explain why corporate managers prefer to measure property : Discuss the issues associated with basing depreciation expense on historical cost rather than other values such as replacement cost
What will be the balance in zs account after admission : Z contributes $38,000 to the partnership and the bonus method is used. What will be the balance in Z's account after admission

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare january and december general journals entries

Prepare the January 1 and December 31 general journals entries for XYZ Company. (please show all calculations)

  How much of the loss is a suspended loss

How much of the loss may be deducted against active and portfolio income, How much of the loss is a suspended loss

  Compute the Capital Allowances and Balancing Charges

Compute the Capital Allowances, Balancing Charges or Balancing Allowances (if any) for the above assets for all the relevant years

  Score small business association counselor

After describing my future business (custom made cabinetry and architectural woodwork), my accountant suggested I incorporate. I visited a SCORE Small Business Association counselor and he suggested a sole proprietorship.

  Create balance sheet and compute margin

Create balance sheet and compute your margin. Supposed the price of the share is to increased by 62% by the fall. Will you receive a margin call

  Prepare the journal entries for umet company

Prepare the journal entries for UMET Company to record the restructuring on April 2, 2016, and the payment of interest on April 1, 2017

  Would firing the employee violate their constitutional right

If the company considered this an act of disloyalty, would firing the employee violate their Constitutional rights? consider the ethical perspective

  Discuss amount of net cash provided by operating activities

What was the amount of net cash provided by operating activities, for the ended September 27, 2014

  Production records show that 25000 units were in beginning

a. determine teh equivalent units of porduction and teh unit production costs for the assembly department.b. determine

  Calculate the carrying amount at March

An item of plant and equipment was purchased on 1 April 20X1 for $100,000. Calculate the carrying amount at 31 March 20X5

  Calculate the size of the equal payments for orey

Orey's retirement fund has an accumulated amount of $60,000. Calculate the size of the equal payments that he deposited at the beginning of every 3 months.

  How much you expect total external failure costs to change

Verizon expects no changes in its operating level in the foreseeable future. How much do you expect total external failure costs to change

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