User Account

All Pages

What is the inventory turnover rate

Assignment Help Accounting Basics
Reference no: EM131797560

Question - Your firm has sales of $628,000 and cost of goods sold of $402,000. At the beginning of the year, your inventory was $31,000. At the end of the year, the inventory balance was $33,000. What is the inventory turnover rate? Show calculations.

A. 11.23 times

B. 12.56 times

C. 18.60 times

D. 19.63 times

E. 29.06 times

Reference no: EM131797560

Questions Cloud

How much income taxes should sherry deduct on schedule a : Assuming she elects to deduct the income tax, how much state income taxes should Sherry deduct on Schedule A of Form 1040 of her 2015 federal income tax return.
Sharing of power and overall societal gain : Balance between various S.I.G's should lead to a balanced sharing of power and overall societal gain.
Examine the strategic sourcing process : Examine the Strategic Sourcing Process. Define the process and describe the major elements within the process.
Calculate cash flows from operations using indirect method : Calculate cash flows from operations using the indirect method
What is the inventory turnover rate : At the beginning of the year, your inventory was $31,000. At the end of the year, the inventory balance was $33,000. What is the inventory turnover rate
Define the role of logistics in supply chain management : Define the role of logistics in supply chain management. Be sure to identify the activites of Integrated Logistics Management.
How much must tighe include in his gross income : In addition, Tighe's employer gave him $5,000 with which to pay the taxes on the prize. How much must Tighe include in his gross income
Prepare a revised balance sheet given available information : Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $168,000.
What is the duration and modified duration : Compute the duration and modified duration of each bond, assuming semi-annual interest payments for the coupon bond.

Reviews

Write a Review

Accounting Basics Questions & Answers

  make any of the necessary journal entries on June

Please help make any of the necessary journal entries on June 30. of the necessary journal entries on June 30

  Insto photo company purchased merchandise,

Insto uses the calendar year as its fiscal year and uses the perpetual inventory system.

  What is the differential delivery cost per month

What is the differential delivery cost per month for expanding into the home delivery market?

  Independent or paired samples

For each of the following scenarios, say whether the data should be treated as independent or paired samples. Explain briefly. If paired, explain what the pairing involves.

  How will you evaluate your recommendation model

Assume that you have joined Hong Kong Broadband after graduation. How will you evaluate your recommendation model? Describe your strategy

  Evaluate pete donaldson ethical behavior

Manipulation of Ratios and Ethical Behavior Pete Donaldson, president and owner of Donaldson Mining Supplies, was concerned about the firm's liquidity.

  What is the new cost basis of the municipal bonds

Teal Corporation has municipal bonds classified as a held-to-maturity at December 31, 2017. What is the new cost basis of the municipal bonds

  What was the number of units completed and transferred

During September, 90,000 units were started. What was the number of units completed & transferred to the next department

  Comment on ryder efficiency in using its assets

Use the following information for Ryder Co. to compute inventory turnover for 2011 and 2010, and its days' sales in inventory at December 31, 2011 and 2010.

  What will be the effect of the lease on lakeside

In the situation described in BE 15-1, what will be the effect of the lease on Lakeside's earnings for the first year (ignore taxes)?

  The controller of ferrence company estimates the amount of

the controller of ferrence company estimates the amount of materials handling overhead cost that should be allocated to

  Consider once again the microchip market described in

consider once again the microchip market described in problem 9 . demand for micropocessors is given by p 35 - 5q.

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