What is the inventory turnover

Assignment Help Accounting Basics
Reference no: EM133184440

Question - ACB, Inc Company has a payable deferal period of 33 days, an inventory conversion period of 90 days, and average collection period of 35 days. The Gross Profit margin is 25% and the number of unit sold was 87,000 units with an average selling price of $25 per unit. What is the inventory turnover? Show the calculation process.

Reference no: EM133184440

Questions Cloud

What will be the present value of the cost : What will be the present value of the cost of 4 years of education at the time the daughter Daisy turns 18
Evaluate the corporate-level strategy : Provide brief complete analysis of different levels of diversification that a firm can pursue by using different corporate-level strategies.
Determine the company pension expense for the year : Lower Lake Corp. reported the following items in the 2017 pension footnote (in millions). Determine the company pension expense for the year
Human resources trends in hospitality : Do online research for trends of human resources in hospitality: Recruiting, Training, Salary and Benefits, Engagement/Retention, Diversity, Unions, or HR trend
What is the inventory turnover : The Gross Profit margin is 25% and the number of unit sold was 87,000 units with an average selling price of $25 per unit. What is the inventory turnover
About bans or government oversight of these platforms : What are your thoughts about bans or government oversight of these platforms? Can this risk be mitigated by companies? If so, how?
Discussion topic of an hrm course : Who would have thought that OSHA and the IRS would be discussed in the same discussion topic of an HRM course? This topic will be a bit foundational
How could we utilize the communications planning template : As you know, many governmental agencies are putting together revised plans to address COVID-19 within their communities.
Responsibility for injury between plaintiff and defendant : • Punitive damage awards exist to deter future harmful actions. What level of award do you believe is necessary to achieve that deterrence effect? When would a

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the cash paid to suppliers for the period

The following information relates to Sevenel Ltd for the period ended 31 December 2020. What is the cash paid to suppliers for the period

  What amount should it report its inventory at on that date

The cost of Sarasota Music Inc.'s inventory at December 31, 2018, is $50,900. What amount should it report its inventory at on that date

  What is the issue price for the bond

Corkicle company manufactures Clorox wipes for use by people and their families. Because of the virus lately, there has been a great demand for their product.

  Compute the company budgeted sales

Health Resources expects to sell 480 units of Product A and 440 units of Product B each day at an average price of $19 for Product A and $32 for Product B.

  Journalize the transaction on books of Carla Vista Company

The selling price of the goods is $840. Both companies use perpetual inventory systems. Journalize the transaction on the books of Carla Vista Company

  What will the portfolio new beta be after these transactions

You have a $2 million portfolio consisting of a $100,000 investment in each of 20 different stocks. What will the portfolio new beta be after these transactions

  Evaluate the practical and conceptual reasons

Evaluate the practical and conceptual reasons for the reporting requirements of research and development costs required by GAAP. Do you agree with the reporting requirements? Explain your response.

  Main influences on the international currency market

Main influences on the international currency market - State your predictions of patterns on major currencies during

  Journalize the business transaction for the company

Journalize the business transaction for the Company journal on 31st of January. Take into consideration that the Company prepares the adjusting journal entries

  Journalize the transactions of june july and aug

On august 30, Belen sold the remaining shares at 42 per share. Journalize the transactions of June 5, July 15 and Aug 30

  Prepare quarterly direct materials purchases budgets

Finished units of production require 6 pounds of raw material per unit. Raw material cost is $7 per pound. Prepare quarterly direct materials purchases budgets

  What is the apr of this loan

All the loan closing fees is $3,000 including fees to third parties. The monthly payment of the loan is $1,432.2459. What is the APR of this loan

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