The following data were taken from the income statements of Metronix Corporation. Compute the inventory-turnover ratio for

Question:

The following data were taken from the income statements of Metronix Corporation.

2012 2011 $4,658,125 Total revenue $3,776,395 Beginning inventory Purchases $231,313 $202,794 $566,145 $231,313 $510,711

Compute the inventory-turnover ratio for each year. What conclusions concerning the management of the inventory can be drawn from the data?

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

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

See More Books

Question Posted: Nov 12, 2018 12:33 PM

See More Questions

The following data were taken from the records of Blumbey Manufacturing Company for the fiscal year ended June 30, 2012. Instructions(a) Prepare a cost of goods manufactured schedule. (Assume all raw...
The following data were taken from the records of Clarkson Manufacturing Company for the fiscal year ended June 30, 2012. Instructions (a) Prepare a cost of goods manufactured schedule. (Assume all...
The following data were taken from the records of Surfs Up Corporation for the year ended July 31, 2006: Retained earnings and balance sheet data: Accounts payable ...........................$ 9,500...
Here are the comparative income statements of Eudaley Corporation. Instructions (a) Prepare a horizontal analysis of the income statement data for Eudaley Corporation, using 2013 as a base. (Show the...
An object acted on by three forces moves with constant velocity. One force acting on the object is in the positive x direction and has a magnitude of 6.5 N; a second force has a magnitude of 4.4 N...
A new city is incorporated and is preparing financial statements for the first time. The city decides to use the purchases method of accounting for supplies in the General Fund. At year-end, the...
1-4. Una organizacin no puede satisfacer las necesidades de todos los consumidores, por lo que debe centrarse en uno o ms subgrupos que son sus _____________.
Patty Schemelenberg, a 45-year-old woman, wishes to accumulate $300,000 over the next 15 years to supplement the retirement programs that are being funded by the federal government and her employer....
Q4. Based on the following statement of financial position find working capital; current ratio; quick ratio; and cash ratio
The Jamis Corporation is involved with waste management. During the past 10 years it has become one of the largest waste disposal companies in the Midwest, serving primarily Wisconsin, Illinois, and...
If Company A uses more debt than Company B and both companies have identical operations in terms of sales, operating costs, etc., which of the following statements is true? (a) Company B will...
The following data are available for two companies, Apple and Oracle, all stated in thousands of dollars. (a) Calculate each companys return on equity (ROE) and return on assets (ROA). (b) Which...
To determine standard cell potentials, measurements are carried out in very dilute solutions rather than at unit activity. Why is this the case?
The relevance ( Relevance ) and the reliability ( Reliability ) represent two characters Key qualitative statistics of information n accountant. What What do these two mean? terms in an accounting...
A virtual memory system has a page size of 1024 bytes, six virtual pages, and five physical page frames. The page table is shown in Table Q2(d) as follows: Virtual Page Number (VPN) 0 Page Frame...
31. z = x + 2xy, determine which of (I)-(II) in Figure 12.31 are cross- sections with x fixed and which are cross-sections with y fixed. (1) (11) -2 -2+
WHAT DOES SOCIETY EXPECT FROM ORGANIZATIONS AND MANAGERS? Introduction: TOMS Shoes has a unique idea to promote corporate social responsibility. For each pair of shoes it sells, it donates a pair to...
1. A car heading east turns right at a corner. The car turns at a constant speed of 20.0 m/s. After 12 s, the car completes the turn, so that it is heading due south at 20.0 m/s. Calculate the car's...
The diagram shows a sector OAB of a circle with centre O and radius r. Angle AOB is radians. The point C on OA is such that BC is perpendicular to OA. The point D is on BC and the circular arc AD...
Express these numbers in standard notation. a. 2.87 10-8 b. 1.78 1011 c. 1.381 10-23
In the current year, Jeanette, an individual in the 25% marginal tax bracket, recognized a $20,000 long-term capital gain. Also in the current year, Parrot Corporation, a C corporation in the 25%...
John (a sole proprietor) and Eagle Corporation (a C corporation) each recognize a long-term capital gain of $10,000 and a short-term capital loss of $18,000 on the sale of capital assets. Neither...
A taxpayer sells a warehouse for a recognized gain. Depreciation had been properly claimed on the property, based on the straight-line method over a 39-year recovery period. Will the same amount of...
The major justification for adding Step 0 to the U.S. GAAP impairment test for goodwill and indefinite lived intangibles is that it: A. Saves money spent estimating fair values B. Results in more...
Regarding research and experimental expenditures, which of the following are not qualified expenditures? 3 a. costs of ordinary testing of materials b. costs to develop a plant process c. costs of...
Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting...

The following data were taken from the income statements of Metronix Corporation. Compute the inventory-turnover ratio for

Question:

2012 2011 $4,658,125 Total revenue $3,776,395 Beginning inventory Purchases $231,313 $202,794 $566,145 $231,313 $510,711 Ending inventory $366,106

Step by Step Answer:

Inventory turnover ratio 2011 SalesAverage inventory balance 3776395 202794 23131305 ...View the full answer

Fundamentals of Engineering Economics

Students also viewed these Business questions