Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 19, 2024

I need clarification for the answer please , 32. The opening balance of a company's stock was Rs. 400,000 and the closing balance of its

I need clarification for the answer please ,

32. The opening balance of a company's stock was Rs. 400,000 and the closing balance of its stock is 800,000 . The cost of goods sold was Rs 900,000 . What is the company's inventory turnover? a. 2.25 b. 1.5 c. 1.125 d. Insufficient information

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

The Practical Guide To Wall Street Equities And Derivatives

Authors: Matthew Tagliani

1st Edition

0470383720, 978-0470383728

More Books

Students also viewed these Finance questions

Question

★★★★★

Sosa Diet Supplements had earnings after taxes of $800,000 in the year 2011 with 200,000 shares of stock outstanding. On January 1, 2012, the firm issued 50,000 new shares. Because of the proceeds...

Answered: 1 week ago

Question

★★★★★

The Fischer projection formula for (+)-2-bromooctane is shown. Write the Fischer projection of the (+)-2-octanol formed from it by nucleophilic substitution with inversion of configuration.

Answered: 1 week ago

Question

★★★★★

ISSUANCE AND INTEREST AMORTIZATION FOR ZERO COUPON NOTE (STRAIGHT LINE) Kerwin Company borrowed $10,000 on a two-year, zero coupon note. The note was issued on December 31, 2008. The face amount of...

Answered: 1 week ago

Question

★★★★★

Crane Corporation has the following accounts included in its December 31, 2012, trial balance: Equity Investments (trading) $21,000; Goodwill $150,000; Prepaid Insurance $12,000; Patents $220,000;...

Answered: 1 week ago

Question

★★★★★

I need clarification for the answer please , 32. The opening balance of a company's stock was Rs. 400,000 and the closing balance of its stock is 800,000 . The cost of goods sold was Rs 900,000 ....

Answered: 1 week ago

Question

★★★★★

Background Information Mason Automotive is an automotive parts company that sells car parts and provides car service to customers. This is Mason's first year of operations and they have hired you as...

Answered: 1 week ago

Question

★★★★★

Applied vs. Actual Manufacturing Overhead Davis Manufacturing Corporation applies manufacturing overhead on the basis of 140% of direct labor cost. An analysis of the related accounts and job order...

Answered: 1 week ago

Question

★★★★★

Expense Adjustments Faraday Electronic Service repairs stereos and DVD players. During the year, Faraday engaged in the following activities: a. On September 1, Faraday paid Wausau Insurance $5,520...

Answered: 1 week ago

Question

★★★★★

The kangaroo rat, found in the more arid regions of the western and southwestern United States, is almost perfectly adapted to life in the desert. A kangaroo rat can survive without ever drinking any...

Answered: 1 week ago

Question

★★★★★

Retail Inventory Method Harmes Company is a clothing store that uses the retail inventory method. The following information relates to its operations during the year: Inventory, January 1 Purchases...

Answered: 1 week ago

Question

★★★★★

GOA Mike and Elizabeth, two audit staff associates are working on the audit of PeaGram LLC, a nationwide distributor of frozen foods. Mike and Elizabeth are discussing the concept of materiality, and...

Answered: 1 week ago

Question

★★★★★

Is it ethical to send blind copies of e-mail? Is it unethical to forward them to others? Discuss. (Objective 4)

Answered: 1 week ago

Question

★★★★★

What advice would you give to someone who consistently deletes the text of incoming e-mail before adding a one- or two-word reply? (Objective 4)

Answered: 1 week ago

Question

★★★★★

Why is audience analysis important when designing a web page? (Objective 4)

Answered: 1 week ago

Previous Question Next Question