Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 21, 2024

1. The revenue for a firm is $2,500,000. Its cost of revenue is $850,000, and its average inventory for the year is $62,000. What is

1. The revenue for a firm is $2,500,000. Its cost of revenue is $850,000, and its average inventory for the year is $62,000. What is their inventory turnover? ( 5 points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services A Systematic Approach

Authors: William F. Messier, Steven M. Glover, Douglas F. Prawitt

4th Edition

0071117474, 9780071117470

More Books

Students also viewed these Accounting questions

Question

★★★★★

A 5.00-kg object placed on a frictionless, horizontal table is connected to a string that passes over a pulley and then is fastened to a hanging 9.00-kg object, as in Figure P5.24. Draw free-body...

Answered: 1 week ago

Question

★★★★★

63. Exercise 29 (Section 3.3) gave the pmf of Y, the number of traf c citations for a randomly selected individual insured by a particular company. What is the probability that among 15 randomly...

Answered: 1 week ago

Question

★★★★★

Montalvo Company uses special journals and a general journal. The following transactions occurred during September 2010. Sept. 2 Sold merchandise on account to T. Hossfeld, invoice no. 101, $720,...

Answered: 1 week ago

Question

★★★★★

The interest accrual entry debits an owners' equity account and credits a. An asset accounts b. A liability accounts c. An owners' equity accounts d. None of the above

Answered: 1 week ago

Question

★★★★★

Sarah operated a sandal making factory and store and is curious how much time she has available per year for production. Sarah knows she needs a 1 5 % capacity cushion per year as well. She also has...

Answered: 1 week ago

Question

★★★★★

25.0 m C B A 52.0 m 65.0 m

Answered: 1 week ago

Question

★★★★★

Explain the difference between traditional square of opposition and modern square of oppositions.

Answered: 1 week ago

Question

★★★★★

Becton Labs produces a variety of chemical compounds for industrial uses. The standard mix for February's production of 80,000 litres of Product "X" and the budgeted costs, are as follows: Liquid...

Answered: 1 week ago

Question

★★★★★

Q2) A jute packaging unit has planned production of 4950 kg of jute to be sold six months later. The spot price is 1940 per kg while six months futures are trading at 1880. The firm expects the price...

Answered: 1 week ago

Question

★★★★★

Scare-2-B-U (S2BU) specializes in costumes for all occasions. The average price of each of its costumes is $310. For each occasion, S2BU receives a 30 percent deposit two months before the occasion,...

Answered: 1 week ago

Question

★★★★★

Consider some type of redress for the customer, such as a coupon.

Answered: 1 week ago

Question

★★★★★

Sell the quality of your brand or products.

Answered: 1 week ago

Question

★★★★★

Look carefully at your automated responses (perhaps sent out im - mediately aft er a customers e-mail is received) and make sure you communicate a desire to get back to customers in a specifi ed...

Answered: 1 week ago

Previous Question Next Question