User Account

All Pages

Determine the number of days sales in inventory

Assignment Help Accounting Basics
Reference no: EM133066783

Question - A company reports the following:

Cost of goods sold $2,920,000

Average inventory 292,000

Required -

a. Determine the inventory turnover. Assume a 365-day year.

b. Determine the number of days' sales in inventory. Assume a 365-day year.

Reference no: EM133066783

Questions Cloud

Calculate the wavelength of the light : Calculate the wavelength of the light using the experimental data you have collected and Determine the angle at which the first (order) bright spot
Explain the risks related to financing high current account : Please explain how the current account balance is linked with the international investment position. Please explain the risks related to financing a high curren
What would happen to volume : You provide IV infusion services, focusing on services that are not covered by health insurance. Your monthly overhead is $2,300.
Calculate unemployment rate and labor force participation : Calculate unemployment rate and labor force participation rate for both 2010 and 2020 given the following information: In 2010, there were 14,000 people employe
Determine the number of days sales in inventory : A company reports the following: Cost of goods sold $2,920,000 and Average inventory 292,000. Determine the number of days sales in inventory
Prolonged period of below-freezing temperatures : Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, or neither.
Company strategic priorities : A company's strategic priorities must drive how capital allocations are made and the size of each unit's operating budget.
Illustrate the state of the economy : Suppose the economy is in a long-run equilibrium. +- Draw a diagram to illustrate the state of the economy. Be sure to show aggregate demand, short-run aggregat
Prepare bank reconciliation for the company as at September : The bank statement showed a deduction of bank service charge fees of $50. Prepare bank reconciliation for the company as at September

Reviews

Write a Review

Accounting Basics Questions & Answers

  A publicly owned corporation the companys outstanding stock

prairie fire snowmobile corp. manufactures and sells snowmobiles in wisconsin minnesota and the dakotas. a publicly

  Calculate the proceeds that jab consulting will receive

Grove Isle Bank discounted the note at a discount rate of 8%. Calculate the proceeds (in $) that JAB Consulting will receive from the discounted note

  What is the hospital corporate cost of capital

Its cost of equity (fund capital) estimate is 13.5 percent and its cost of tax-exempt debt estimate is 7 percent. What is hospital's corporate cost of capital

  Evaluate ethical guidelines involved in tax practice

Evaluate some of the ethical guidelines involved in tax practice. A practitioner can use a client's estimates if they are reasonable under the circumstances

  On june 30 2009 airport company issued 1500000 of 10 year 8

1. journalize the entries to record the following selected bond investment transactions for southwest bank 1. purchased

  Prepare the correcting entries

A payment on account of $840 to a creditor w debited to Accounts payable $480 and credited to Cash $480. Prepare the correcting entries.

  Discuss the sources of information and types of inquiries

Discuss the sources of information and types of inquiries that you and the firm's partners may make in connection with accepting Hitech as a new client

  How much fixed overhead cost is included in ending finished

a company has incurred the following total costs for its very first month of operationsraw materials

  Prepare entries to close the firm income summary account

Prepare entries to close the firm's Income Summary account as of december 31, and to allocate the net income to the partners

  Which statements accurately describes transfer tax planning

Which statements accurately describes a transfer tax planning issue? Upon the death of one its owners, a property owned in joint tenancy automatically goes

  Discuss the manager expects to produce next year

Required Compute the number of units that the manager expects to produce next year

  Compute the new machines net preset value

Compute the new machine's net preset value. Use the incremental cost approach and round all dollar amounts to the nearest whole dollar

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