Consider the following information for a company: Sales (all credit): $6,000,000; Cost of Goods Sold: 80%...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Consider the following information for a company: Sales (all credit): $6,000,000; Cost of Goods Sold: 80% of Sales; Accounts receivable: $350,000; Inventory: $600,000; Accounts payable: $150,000 What is the approximate Days of Sales in Inventory? Use 1 year = 365 days Consider the following information for a company: Sales (all credit): $6,000,000; Cost of Goods Sold: 80% of Sales; Accounts receivable: $350,000; Inventory: $600,000; Accounts payable: $150,000 What is the approximate Days of Sales in Inventory? Use 1 year = 365 days
Expert Answer:
Answer rating: 100% (QA)
the Days of Sales in Inventory DSI is approximately 4562 days MetricValue Days of Sales in Inv... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-1439037805
9th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
Posted Date:
Students also viewed these finance questions
-
b. Now suppose you are choosing the insurance for yourself. Based on your own situation, what is your annual medical cost and which insurance are you going to choose based on your family, history,...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
The Bigfork Company is a retail company that began operations on January 1,2018. The Bigfork Company is authorized to issue 1,000,000 shares of P10 par value ordinary share and 500,000 shares of 3%,...
-
Sandra, a sole proprietor, is an interior designer and has thefollowing account balances on December 31, 20X0: Cash $2,500,Inventory $9,000, Equipment $25,000, Accumulated depreciation$5,000, Liabi 2...
-
The following data are taken from the financial statements, determine for the current year the (a) Rate earned on total assets, (b) Rate earned on stockholders' equity, (c) Rate earned common...
-
Refer to Exercise 12-25. Stanmore Corporation makes a special-purpose machine, D4H, used in the textile industry. Stanmore has designed the D4H machine for 2017 to be distinct from its competitors....
-
Tom Cruises business has the following balance sheet items on 31 December 20x8: During the first two weeks of January 20x9, the following transactions occurred: Required 1 Prepare a profit and loss...
-
Marcellus Jackson, the CFO of Mac, Inc., notices that the tax liability reported on Macs tax return is less than the tax expense reported on Macs financial statements. Provide a letter to Jackson...
-
per gallon (M for 60 foreign cars is given in the following frequency table. Find the mean, median, and mode for these data. MPG Frequency 19 20 21 22 23 24 25 26 27 28 29 30 2 5 2 4 6 7 8 8 3 7 5 3...
-
Robertos Honey Farm in Chile makes five types of honey: cream, filtered, pasteurized, mlange (a mixture of several types), and strained, which are sold in 1 or 0.5 kg glass containers, 1 kg and 0.75...
-
4 nts The common stock of the C.A.L.L. Corporation has been trading in a narrow range around $105 per share for months, and you believe it is going to stay in that range for the next 6 months. The...
-
Explain the significance of the output resistance of the current-source circuit.
-
What were the positive and negative aspects of the changes that occurred in the auditors ethical environment during the 1970s and 1980s?
-
What is the advantage of using a cascode active load?
-
You have been assigned to perform an operational audit of the vehicle mainte nance department of a large university. What factors will you consider in deter mining if the department is operating...
-
What is the impedance seen looking into a simple active load?
-
2-22. Variable costs and fixed costs. Consolidated Minerals (CM) owns the rights to extract minerals from beach sands on Fraser Island. CM has costs in three areas: a. Payment to a mining...
-
Smiths Family Fashions implemented a balanced scorecard performance measurement system several years ago. Smiths is a locally owned clothing retailer with fashions for men, women, teens, and...
-
Eva Prokop is attempting to sell her business to Joseph Kahn. The company has assets of $3,600,000, liabilities of $3,200,000, and stockholders equity of $400,000. Both parties agree that the proper...
-
The trial balance for Marek Services, Inc., at the end of July appears below. It does not balance because of a number of errors. Mareks accountant compared the amounts in the trial balance with the...
-
The Vegas Corporation had both common stock and preferred stock outstanding from 2009 through 2011. Information about each stock for the three years is as follows: The company paid $70,000, $400,000,...
-
Study the format of the analysis of variances in Exhibit 12-12. Suppose production is 156,000 units. Also assume the following: Other data are as shown in Exhibit 12-12. Prepare an analysis of...
-
The following questions are based on the data contained in Exhibit 12-9. 1. Suppose actual production and sales were 8,000 units instead of 7,000 units. (a) Compute the sales-volume variance. Is the...
-
Belfair Kayak Company makes molded plastic kayaks. Standards costs for an entry-level whitewater kayak are: Direct materials, 60 kilograms @ $5.50 per kilogram Direct labour, 1.5 hours $16 per hour...
Study smarter with the SolutionInn App