If opening inventory is 3,000, closing inventory 5,000, sales 40,000 and margin 20 per cent, then inventory

Question:

If opening inventory is £3,000, closing inventory £5,000, sales £40,000 and margin 20 per cent, then inventory turnover is

(A) 8 times

(B) 71/2 times

(D) 6 times

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

Step by Step Answer:

Related Book For book-img-for-question

Frank Woods Business Accounting An Introduction To Financial Accounting

ISBN: 9781292365435

15th Edition

Authors: Alan Sangster, Lewis Gordon, Frank Wood

See More Books

Question Posted: Mar 04, 2024 09:23 AM

See More Questions

Identify the conic that each polar equation represents and graph it. 3 + 2 cos 6
Modern leadership theories focus upon what the leader does, servant leaders are defined by their character as well as by manifestly 'demonstrating their complete commitment to serve others.' Discuss?
Find the change of basis matrix from the standard basis S to B, and then convert x to the coordinate vector with respect to B. B = { [ ] [ _{]}, = [ 1 ] X xB =
Its estimated that the average corporate user sends and receives some 112 e-mails daily.78 Thats about 14 e-mails per hour, and even if half of those dont require a lot of time and concentration,...
A firm's income statement includes the following data. The firm's average tax rate was 20%. No depreciation is included in cost of goods sold or administrative expenses. Cost of goods...
You are given that g(x 1 , x 2 , x 3 , x 4 ) = x 2 1 x 4 2 sin x 3 + x 5 3 ln x 4 . Obtain the following mixed partial derivatives. a. gx1x2 b. gx2x1 c. 8x1x2x3 d. gx3x1x2 e. gx1x1x1x4 f. 8x1x4x4x1
The June 15, 1999, Wall Street Journal included an article by Ellen E. Schultz entitled Companies Reap a Gain off Fat Pension Plans. Instructions Read the article and answer the following questions....
An aqueous slum? at 30?C containing 20.0 wt% solids is fed to an evaporator in which enough water is vaporized at 1 atm to produce a product slurry containing 35.0 wt% solids. Heat is supplied to the...
a3 a 3 R Ltd. 1. Computation and Discharge of Purchase Consideration Illustration - 1 The Oil Shell Ltd. was incorporated on Ist April 2008 for the purpose of acquiring P Ltd., Q. Ltd., and R Ltd....
Tree Top Company is a service based company that rents canoes for use on local lakes and rivers. At the beginning of the new year, Tree Top Company decided to carry and sell T-shirts with its logo...
In this chapter youve learnt about some specific roles and areas of accountancy, such as financial controller or tax adviser. Can you suggest any other particular areas of accounting in which you can...
For simplicity and convenience, this chapter discusses accountants as working in practice, in industry or in the public sector. However, some organisations might not fall neatly into one of these...
What are the primary components of time series?
D manufacturing Company uses a process cost system. In the second department, Department X, spoiled units occur when units are 70% complete. Direct Materials are added at the end of the process....
This week, I read Pat Friman's 2021 article, "There Is no Such Thing As a Bad Boy: The Circumstances View of Problem Behavior," on adopting The Circumstances View when working with clients. In this...
Download the labour force statistic for Australia from the ABS website here. Use the data to answer the following questions only. You do not have to analyze the data. Show proof when you make...
Split Corporation manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products based on relative sales values of the products at the split-off point....
A television show conducted an experiment to study what happens when buttered toast is dropped on the floor. When 44 buttered slices of toast were dropped, 28 of them landed with the buttered side up...
How can a promoter avoid personal liability for pre-incorporation contracts?
Prove the following D,(cos x) = - sin x (Hint: Apply the identity cos(A + B) = cos A cos B sin A sin B)
Read Tweeting Social Change:How Social Media Are Changing Nonprofit Advocacy by Guo and Saxton.According to the authors, how do nonprofit organizations use social media to advocate for social causes?
Read Tweeting Social Change:How Social Media Are Changing Nonprofit Advocacy by Guo and Saxton.What is the authors three-stage pyramid model of social media-based advocacy?
The following items were reported in the Chronicle of Philanthropy. In each case, what types of controls that might have prevented the incident were either not in place or did not work?
Current Attempt in Progress On July 3 1 , 2 0 2 2 , Crane Compary had a cash balance per books of $ 6 , 2 4 5 . 0 0 . The statement from Dakata State Bark on that date showed a balance of $ 7 , 7 9 5...
Cede & Co. expects its EBIT to be $89,000 every year forever. The firm can borrow at 5 percent. Cede currently has no debt, and its cost of equity is 10 percent. If the tax rate is 35 percent, what...
In the Marriott example, one discussion point considered when a firm might use a single hurtle rather than different divisional or business unit rates. When a single rate is used and the divisions...

If opening inventory is 3,000, closing inventory 5,000, sales 40,000 and margin 20 per cent, then inventory

Question:

Step by Step Answer:

Frank Woods Business Accounting An Introduction To Financial Accounting

Students also viewed these Business questions