What was the inventory turnover

Assignment Help Financial Accounting
Reference no: EM132982404

Question - Your company had net sales of $70,000 over the past year. Cost of goods sold was $43,000. During that time, average inventory was $15,000. What was the Inventory Turnover?

Reference no: EM132982404

Questions Cloud

Calculateoperating income according to absorption costing : Calculate the Operating Income according to both Absorption and Variable costing and explain the difference. Budgeted and actual fixed manufacturing costs.
Determine which option is better for alloils : Determine which option is better for AllOils Limited showing all workings
Draw a time line that depicts the cash flows : Draw a time line that depicts the cash flows from the mortgage payments from when you bought your home
Do you think amazon should be forced to provide recordings : Do you think Amazon should be forced to provide Echo recordings, or are "Privacy rights" more important?
What was the inventory turnover : Cost of goods sold was $43,000. During that time, average inventory was $15,000. What was the Inventory Turnover
What amount is deducted in arriving : An individual reports the following capital transactions in the current year: What amount is deducted in arrivingat the adjusted gross income
How the elsa contract should be reported in monday agency : The exchange transaction lacked commercial substance. After the exchange transaction, the Elsa contract should be reported in Monday Agency's records/books at?
How the tract of land should be carried at : How the tract of land should be carried at? Tuesday Company traded 8,000 shares of its P25 par value common stock for a tract of land
What is the child recognized gain or loss : A fair market value of $30,000. No gift tax is paid. The child subsequently sells the stock for $36,000. What is the child's recognized gain or loss, if any

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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