Reference no: EM131361850
1. A local retailer has sales of $950,000 and cost of goods sold of $627,400. At the beginning of the year, the inventory was $62,200. At the end of the year, the inventory balance was $70,000. What is the inventory turnover rate? (Assume a 365-day year)
2. TCI Air Freight has sales of $625,000, costs of goods sold of $375,000, average accounts receivable of $32,520, and average accounts payable of $21,600. How long does it take for the firm's credit customers to pay for their purchases? (Assume a 365-day year)
3. Hudson Enterprises has sales of $1,040,000, average accounts receivable of $41,400 and average accounts payable of $29,250. The cost of goods sold is equivalent to 54% of sales. How long does it take Hudson to pay its suppliers? (Assume a 365-day year)
4. Bradco Supply currently has an operating cycle of 62 days. The company is analyzing some operational changes, which are expected to decrease the accounts receivable period by 2 days and increase the inventory period by 5 days. The accounts payable turnover rate is expected to increase from 24 to 28 times per year. If all of these changes are adopted, what will the company's new operating cycle be?
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: A local retailer has sales of $950,000 and cost of goods sold of $627,400. At the beginning of the year, the inventory was $62,200. At the end of the year, the inventory balance was $70,000. What is the inventory turnover rate?
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