What is your annual inventory turnover

Assignment Help Financial Accounting

Reference no: EM131268050

Suppose that your average inventory level is the same in all four quarters of your fiscal year. If your inventory turnover is 8 and your current ratio is 2 in each of those quarters, what is your annual inventory turnover?

Reference no: EM131268050

Questions Cloud

Financing leases with unguaranteed residual value : Steven Truck Company has been an 80%-owned subsidiary of Paulz Heavy Equipment since January 1, 2013, when Paulz acquired 128,000 shares of Steven common stock for $832,000, an amount equal to the book value of Steven’s net assets at that date. Prepa..

The direct materials quantity variance : The standard and actual costs for direct materials, direct labor and factory overhead for the manufacture of 2,500 units of product are as follows: Using the information given above, the direct materials quantity variance is: Using the information gi..

Alternative minimum tax consequences : Susan was granted 12,000 of stock options by her employer in 2010. Each option allowed Susan to purchase one share of her employer’s stock for $60 per share. On the date of the grant in 2010, the stock was selling for $48 per share. Please ignore alt..

Determine the future value : Determine the future value of $10,000 under each of the following sets of assumptions (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1), Find i and n.

What is your annual inventory turnover : Suppose that your average inventory level is the same in all four quarters of your fiscal year. If your inventory turnover is 8 and your current ratio is 2 in each of those quarters, what is your annual inventory turnover?

Work-in-process inventory : There is no spoilage, the beginning work-in-process inventory is 9,650 units, and the ending work-in- process inventory is 5,250 units for the second department in a two department process. What is the number of units transferred in to the second dep..

How many units are in ending work-in-process : Abnormal spoilage is 155 units and normal spoilage is 620 units. Beginning work-in-process inventory consisted of 8,800 units; 24,000 units were started; and 26,600 units were completed this period. How many units are in ending work-in-process?

Green mountain partners : Greg, Alex, and Tom formed a general partnership in 2000 which they call Green Mountain Partners. Green Mountain Partners presently owns a bed and breakfast inn located in Quechee, Vermont. If Greg sold the land to the partnership, Green Mountain Par..

Calculate taxable income and their tax liability : Rufus and Rhonda are a married couple with 3 dependent children, all under 16 years of age. Rufus, 46, is an executive with Plowshare Corporation. Rhonda, 39, is a self-employed attorney. Based on the information provided, calculate Rufus and Rhonda’..

User Account

All Pages