Carlos Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods sold of $285,000,

Question:

Carlos Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods sold of $285,000, and sales of $475,000. Carlos’s days in inventory is:

(a) 73 days.

(b) 121.7 days.

(c) 102.5 days.

(d) 84.5 days.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Tools For Business Decision Making

ISBN: 9781119191674

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

See More Books

Question Posted: Feb 11, 2024 03:00 AM

See More Questions

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
The following are the major balance sheet classifications: Current assets (CA) Current liabilities (CL) Long-term investments (LTI) Long-term liabilities (LTL) Property, plant, and equipment (PPE)...
Columbia Corp's required ROI is 10% Its West Division has revenues of $6,000,000, asset turnover of 1, and ROI of 10% Calculate the West Division's operating income.
Discuss the relevance of synchronicity, social presence, social acceptance, and media richness when choosing the preferred communication channel. AppendixLO1
What are the steps that CCPM employs to resolve resource conflicts on a project? How does the concept of activity late starts aid this approach?
A 500.0-g bird is flying horizontally at 2.25 m/s, not paying much attention, when it suddenly flies into a stationary vertical bar, hitting it 25.0 cm below the top (Fig. 10.63). The bar is uniform,...
Tamarisk Professionals, a management consulting firm, specializes in strategic planning for financial institutions. Thomas Anderson and Daniel Harris, partners in the firm, are assembling a new...
Songbird Company has sales of $150,000 and cost of goods available for sale of $135,000. If the gross profit rate is 30%, the estimated cost of the ending inventory under the gross profit method is:...
Which of these would cause the inventory turnover ratio to increase the most? (a) Increasing the amount of inventory on hand. (b) Keeping the amount of inventory on hand constant but increasing...
Relevant activities LO2 Caspar Ltd and Spooky Ltd decide to establish a new entity, Ghosts Ltd. The purpose of Ghosts Ltd is to develop and market a new car seat designed for use by babies when...
Following the example shown in (a) below, indicate the effects of the listed transactions on the assets, liabilities, and stockholders equity of John Dallmus, certified public accountant, a...
What effect does the ordering of a search tree have on the efficiency of the search? What effect does it have on the quality of the results? How would order affect the way that depth-first search or...
For each of the accounts listed below, indicate whether the account is increased by a debit or a credit: Accounts Receivable Sales Revenue Equipment Common Stock Notes Payable Retained Earnings...
Smart Sports is also planning to launch a range of drinks products. The products have been developed by Hydration Labs Ltd and are designed to be sold as powders that dissolve easily in water. They...
Baucom Company accepted credit cards in payment for $\$ 6,850$ of services performed during March 2011. The credit card company charged Baucom a 4 percent service fee. The credit card company paid...
Draw an entity-relationship diagram for a small retail store. You wish to keep track of the product name, description, unit price, and number of items of that product sold to each customer. You also...
A manufacturer can sell product 1 at a profit of $20 per unit and product 2 at a profit of $40 per unit. Three units of raw material are needed to manufacture one unit of product 1, and six units of...
Klick Company and Klack Inc., are large retail department stores. Both companies offer credit to their customers through their own credit card operations. Information from the financial statements...
The following data were extracted from the income statement of Hestia Systems Inc.: a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round to the...
Dell Inc. and Hewlett-Packard Company (HP) compete with each other in the personal computer market. Dell's primary strategy is to assemble computers to customer orders, rather than for inventory....
Berbice Inc. has a new project, and you were recruitment to perform their sensitivity analysis based on the estimates of done by their engineering department (there are no taxes): Pessimistic Most...
#3) Seven years ago, Crane Corporation issued 20-year bonds that had a $1,000 face value, paid interest annually, and had a coupon rate of 8 percent. If the market rate of interest is 4.0 percent...
I have a portfolio of two stocks. The weights are 60% and 40% respectively, the volatilities are both 20%, while the correlation of returns is 100%. The volatility of my portfolio is A. 4% B. 14.4%...

Carlos Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods sold of $285,000,

Question:

Step by Step Answer:

Accounting Tools For Business Decision Making

Students also viewed these Business questions