User Account

All Pages

Determine for each year the inventory turnover

Assignment Help Accounting Basics
Reference no: EM132464864

Problem - The following data are taken from the financial statements:

 

Current Year

Preceding Year

Net Sales

$3,592,000

$4,056,000

Cost of goods sold

$2,092,000

$2,656,000

Avg mthly inventory

$332,000

$328,000

Inventory end/yr

$372,000

$347,000

Required - Determine for each year (1) the inventory turnover and (2) the days' sales in inventory. Round inventory turnover answers to one decimal place and number of days' sales in inventory, (including intermediate calculations) to two decimal places.

Reference no: EM132464864

Questions Cloud

Why slavery was incompatible with our economic system : You have already developed a thesis statement and an outline in which you explored the peculiar institution known as slavery. Now you will develop the final.
What is the effect of the sale on the balance sheet : X Company sold merchandise for $8,800 cash. The merchandise had cost the company $7,100. What is the effect of the sale on the balance sheet?
Prepare journal entr posted automatically to general ledge : Journal entries are posted automatically to the general ledger and trial balance.Enter the transactions that are properly included in this special journal.
What were the reasons and outcomes : Write a 2-page (600 words) essay on the topic "The American Civil War 1861-1865" explaining: what were the reasons and outcomes.
Determine for each year the inventory turnover : The following data are taken from the financial statements: Determine for each year the inventory turnover and days' sales in inventory
Write a fictional first-hand journal account : Write a fictional first-hand journal account as if you were living in Salem Village in 1692. You can write from the point of view of an accuser, an accused.
Analyze primary sources using specifics and details : Essays require that you interpret primary source evidence in historical context, drawing from the assigned course readings. All of your papers must: closely.
Prepare the journal entry at the date of purchase. : Prepare the journal entry(ies) at the date of purchase. Calculate the purchase price using any of the three methods (tables, financial calculator, or Excel).
Estimate health of the december doe population : To estimate the health of the December doe population, park rangers use the rule that the average weight of n = 55 does should be more than 52 kg.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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