User Account

All Pages

What was the days inventory outstanding

Assignment Help Accounting Basics
Reference no: EM133090356

Question - Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $7.00 million. The ending inventory for the year was $8.00 million. What was the days inventory outstanding?

A. 52 days

B. 161 days

C. 46 days

D. 21 days

Reference no: EM133090356

Questions Cloud

Different kinds of strategy : Define and discuss each of the five different kinds of strategy identified by Mintzberg and Waters.
What does Oldhat balance sheet look like : Bank regulators force Oldhat to sell its mortgages to recognize the fair market value. What does Oldhat's balance sheet look like
Effectiveness of transformational-transactional leadership : Evaluate the role and effectiveness of transformational and transactional leadership in the organization.
Consolidating the payroll processing : The Government of Canada had been using a legacy payroll system for over 40 years. It wanted to integrate its systems that were used to pay about 290,000 employ
What was the days inventory outstanding : The beginning inventory for the year was $7.00 million. The ending inventory for the year was $8.00 million. What was the days inventory outstanding
Difference between push and pull systems : Explain the difference between push and pull systems. What advantages do pull systems have over push systems?
Describe the analysis that was completed on tiktok : Describe the analysis that was completed on TikTok and why the method was chosen (kaggle.com)
What did Carlos pay for the bond : Carlos bought a $1000 bond paying interest at j2j2 = 6.7%, redeemable at par on July 7, 2037. What did Carlos pay for the bond
Relevance for strategic planning : Analysis of the significance of the three Matrices regarding their relevance for strategic planning. Describe the key information for each of the three matrices

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the value in use of the patented manufacturing

The contract for this transaction stipulates that Flint Corporation pays Carla Vista $20,000. What is the value in use of the patented manufacturing

  Prepare worksheet entries to consolidate these two companies

Percy has properly applied the equity method to the investment in Sledge. Prepare worksheet entries to consolidate these two companies

  Can think of any disadvantages to activity-based costing

Can you think of any disadvantages to ABC? Activity-based costing is one of the most accurate methods that can be used to allocate overhead.

  Finished-goods inventory on this date

Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2001, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was n..

  Who are willing to buy protection against default

Credit default swaps, a derivative instrument described in Chapter 30, allow investors to buy and sell protection against the default of a municipal issuer.

  Which the accounting standards that are currently used

Which the accounting standards that are currently used in the Philippines are referred to as the?Philippine Financial Reporting Standards (PFRS)

  What amount should be capitalized cost of the new machine

What amount should be the capitalized cost of the new machine. Payment for strengthening the floor to support the weight of the new machine, P 150,000

  What is the expected forward rate

A 5-year U.S. government bond has a 3% yield, and a 5-year Swiss government bond has a yield of 2%. What is the expected 5-year forward rate

  Shift from gaap to ifrs

Over the next few years companies will be shifting away form GAAP to IFRS (International Financial Reporting Standards). GAAP was a rules based approach to accounting where IFRS is a more principals based approach to accounting.

  Prepare the necessary adjusting entries at the end of month

Prepare the necessary adjusting entries at the end of the month of July. On 1 July, rent of $3,600 for the 6-month period ending 31 December is paid.

  Determine the direct labor time variance for this worker

During a recent week, a Level 2 project was assigned to a Level 1 programmer. Determine the direct labor time variance for this worker

  Analyze the various forms of penalties

Analyze the various forms of penalties that occur as a result of tax evasion. Share your opinion on these penalties

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