Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

10 points Save Answer On its most recent financial statements, Gevelyn Inc. reported net sales of $571,000, accounts receivable of $75,000, inventories of $66,000,

10 points Save Answer On its most recent financial statements, Gevelyn Inc. reported net sales of $571,000, accounts receivable of $75,000, inventories of $66,000, and accounts payable of $58,000. Gevelyn's COGS are 80% of its net sales. What is Gevelyn's days of sales in inventory? Round to two decimal places (Ex. 0.00). Question 7 10 points What is the cost of an unsecured bank loan of $400,000 with a 13% compensating balance and interest rate of 6% per year, borrowed for 180 days? The loan requires discounted interest. Assume a 360 day year. Submit your answer as a percentage and round to two decimal places (Ex. 0.00%). Question 6 Sa

Step by Step Solution

3.46 Rating (159 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below 7 COGS ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Corporate Finance A Focused Approach

Authors: Michael C. Ehrhardt, Eugene F. Brigham

4th Edition

1439078084, 978-1439078082

More Books

Students also viewed these Finance questions

Question

Explain the concept of shear force and bending moment in beams.

Answered: 1 week ago

Question

21. What are the two kinds of stroke, and what causes each kindpg99

Answered: 1 week ago