Over the past year, Keto Grocery Store had a cost of goods sold of $24,500,000 and an
Question:
Over the past year, Keto Grocery Store had a cost of goods sold of $24,500,000 and an average value of inventory of $1,100,500. What is its inventory turnover? What does it mean?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
Inventory turnover IT Cost of goods sold Average inventory value 132 245000001100500 223 T...View the full answer
Answered By
Anoop V
I have five years of experience in teaching and I have National Eligibility in teaching (UGC-NET) .
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Operations And Supply Chain Management
ISBN: 9780357131695
2nd Edition
Authors: David A. Collier, James R. Evans
Question Posted:
Students also viewed these Business questions
-
The Robinson Company had a cost of goods sold of $1,000,000 in 2014 and $1,200,000 in 2015. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have been the...
-
The Robinson Company had a cost of goods sold of $1,000,000 in 2016 and $1,200,000 in 2017. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have been the...
-
The Taylor Company Limited reported a cost of goods sold of $640,000 last year, when 20,000 units were produced and sold. The cost of goods sold was 35% materials, 42% direct labour, and 23%...
-
One type of systematic error arises because people tend to think of benefits in percentage terms rather than in absolute dollar amounts. As an example, Samir is willing to drive 20 minutes out of his...
-
For a certain wine, the mean pH (a measure of acidity) is supposed to be 3.50 with a known standard deviation of = .10. The quality inspector examines 25 bottles at random to test whether the pH is...
-
A company trades an old Web server for a new one. The cost of the old server is $30,000, and its accumulated depreciation at the time of the trade is $23,400. The new server has a cash price of...
-
What are the differences in a master production schedule in a JIT environment? LO,1
-
Bobs Country Kitchen, a small family-owned restaurant in northern New York, has seen a drop in profitability over the past three years and the owners want to know why. Bobs has been a local favorite...
-
In 2022, Alphabet acquired Mandiant. Use the BSE to record the acquisition of Mandiant
-
Solve the structures in Figures P5-16 through P5-18 by using substructuring. Figure P5-16 (Substructure the truss at nodes 3 and 4) Figure P5-17 (Substructure the beam at node 3) Figure P5-18...
-
A big box electronics store sells 250 65-inch televisions during the year. The store maintains an average inventory of five units. What is its inventory turnover? What implications does this have for...
-
Research and find a physical good that is biodegradable or carbon neutral. Be prepared to present your findings to the class in a two- to five-minute discussion.
-
Outline the process involved in initiating a personal injury lawsuit, and discuss the hospitality manager s role in that process.
-
(a) Draw a simplified ray diagram showing the three principal rays for an object located inside the focal length of a converging lens, closer to the lens than to the focal point. (b) Is the image...
-
Power efficiency has become very important for modern processors, particularly for embedded systems. Create a version of gcc for two architectures that you have access to, such as x86, RISC-V,...
-
There is a movement toward wireless mobile computing using thin-client technology. Go to the Web and visit some of the ma jor computer vendors that are producing thin-client products such as handheld...
-
Draw a B-tree of order 4 and height 3 containing the fewest elements. Show an example of a split that would be applied by inserting the fewest number of elements.
-
Repeat Example 10-4, except calculate the diameter at the bottom of the column. Example 10-4 A distillation column is separating n-hexane from n-heptane using 1-in. ceramic Intalox saddles. The...
-
Which group function can be used to perform a count that includes NULL values?
-
Find the velocity, acceleration, and speed of a particle with the given position function. r(t) = (t 2 , sin t - t cos t, cos t + t sin t), t > 0
-
A call center employs 1,000 agents. Every month 50 employees leave the company and 50 new employees are hired. a. How long, on average, does an agent work for this call center? Suppose the cost of...
-
A call center employs 1,000 agents. Every month 50 employees leave the company and 50 new employees are hired. a. How long, on average, does an agent work for this call center? Suppose the cost of...
-
Money Laundry has 10 washers and 15 dryers. All orders are first sent to wash and then to dry. It takes, on average, 30 minutes to wash one order and 40 minutes to dry. a. What is the capacity of the...
-
Fig 1. Rolling a 4 on a D4 A four sided die (D4), shaped like a pyramid (or tetrahedron), has 4 flat surfaces opposite four corner points. A number (1, 2, 3, or 4) appears close to the edge of each...
-
I just need help with question #4 please! Thank you! Windsor Manufacturing uses MRP to schedule its production. Below is the Bill of Material (BOM) for Product A. The quantity needed of the part...
-
(25) Suppose that we have an economy consisting of two farmers, Cornelius and Wheaton, who unsurprisingly farm corn c and wheat w, respectively. Assume that both farmers produce their crop of choice...
Study smarter with the SolutionInn App