User Account

All Pages

Determine the inventory turnover and days in inventory

Assignment Help Financial Accounting
Reference no: EM13531806

Early in 2012, Aragon Company switched to a just-in-time inventory system. Its sales and inventory amounts for 2011 and 2012 are shown below.

2011

2012

Sales revenue

$3,120,000

$3,713,000

Cost of goods sold

1,200,000

1,425,000

Beginning inventory

170,000

210,000

Ending inventory

210,000

90,000

Determine the inventory turnover and days in inventory for 2011 and 2012. Discuss the changes in the amount of inventory, the inventory turnover and days in inventory, and the amount of sales across the two years.

Reference no: EM13531806

Questions Cloud

Determine the correct inventory amount on december 31 : Worthmore Bank and Trust is considering giving Madsen Company a loan. Before doing so, it decides that further discussions with Madsens accountant may be desirable.
Determine the properties of the final image of the system : A diverging thin lens and a concave mirror have focal lengths of equal magnitude. Determine the properties of the final image of the system affter two refractions
Explain the pcl5 decomposes until equilibrium is established : A sealed tube contains 1.66 atm PCl5 at 500 K. The PCl5 decomposes until equilibrium is established. The equilibrium pressure in the tube is 2.28 atm. Calculate Kp for this equilibrium.
Determine how fast does an insect move : An apparatus, shown in the the figure below, is designed to study insects at an acceleration of magnitude 958 m/s (= 97.8g). How fast does an insect move when it experiences a radial acceleration of 958 m/s2
Determine the inventory turnover and days in inventory : Determine the inventory turnover and days in inventory for 2011 and 2012. Discuss the changes in the amount of inventory, the inventory turnover and days in inventory, and the amount of sales across the two years.
Evaluate the ph of the buffer after 5.0 g of koh is added : A buffer is prepared by dissolving 25.0 g of sodium acetate (NaC2H3O2), in 1.20 L of a solution of 0.560 M acetic acid (HC2H3O2). Assume that the volume remains the same after dissolving the NaC2H3O2
Determine the value of the companys inventory : Determine the value of the companys inventory under the lower-of-cost-or-market approach - Bardell Company sells three different categories of tools
A run wire selection based on the limitation of the voltage : The system is being designed with 18 Solec modules. Two parallel-series arrays of 9 modules in each. Design wiring from the two arrays consider both cases: combine wires into one set with high current or run two sets of wires with lower current: 50..
What amount should be reported on laib camera shop : What amount should be reported on Laib Camera Shop's financial statements, assuming the lower-of-cost-or-market rule is applied?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is price of the associated put option

A stock currently sells for $32. A 6-month call option with a strike price of $35 has a price of $2.27. Assuming a 4% continuously compounded risk-free rate and a 6% continuous dividend yield, what is price of the associated put option

  Purpose the journal entries required on wild expansion co

Purpose the journal entries required on Wild Expansion Co.'s books to record the exchanges.

  Compute martin realtors - hourly direct labor cost rate

Compute Martin Realtors - Hourly direct labor cost rate and indirect cost allocation rate

  What will be the system money supply

Assume a financial system has a monetary base of $25 million. The required reserves ratio is 10 percent, and there are no leakages in the system.

  Compute the cost per equivalent unit for materials

The units in ending Work in Process were 85 percent complete with respect to materials and 45 percent complete with respect to conversion costs. Compute the cost per equivalent unit for materials and conversion costs.

  Determine the direct labor budget

The budgeted production is for 52,000 comforters in 2010. Each comforter requires 1.5 hours to cut and sew the material. If cutting and sewing labor costs $11.00 per hour, determine the direct labor budget for 2010.

  What is advertising elasticity at a price

assuming the given advertising budget. What is advertising elasticity at a price of $2? Give an interpretation of the advertising coefficient.

  What is non-controlling interest share of thelma net income

The land had a book value of $32,000 and was sold to Norek for $45,000. Thelma's reported net income for 2009 was $119,000. What is non-controlling interest's share of Thelma's net income?

  Calculate inpatient gross profit

Many hospitals establish a sophisticated data analysis department. Why do hospitals need an understanding of cost behaviors to an ever-increasing degree?

  What was approximate amount of its alleged revenue over

ClearOne had stuffed inventory costing approximately $11.5 million into the distribution channel. On the basis of that assertion, what was the approximate amount of its alleged revenue overstatement by the end of 2002?

  Recording journal entriesat the beginning of the current

recording journal entriesat the beginning of the current season on april 1 the ledger of four oaks pro shop showed cash

  Prepare the retained earnings statement for the year

Prepare the retained earnings statement for the year assuming the balance in retained earnings on January 1, 2011, was $220,000.

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!

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