FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If the formula to calculate the # of days sales in Inventory is Average Inventory divided by one day's worth of sales Then based on

image text in transcribed
If the formula to calculate the # of days sales in Inventory is Average Inventory divided by one day's worth of sales Then based on the following information, compute the # of days sales in inventory for the current year Item Prior Year Current Year Cost of merchandise sold $172,900 $215,000 Inventory 18,000 If required, round your answers to two decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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_2

Step: 3

blur-text-image_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 Next Step Advanced Medical Coding And Auditing

The Next Step Advanced Medical Coding And Auditing

Authors: Carol J. Buck

1st Edition

0323430775, 978-0323430777

More Books

Students also viewed these Accounting questions

Question

★★★★★
What are the main similarities and differences between a manual and an automated accounting system?

Answered: 1 week ago

Question

★★★★★
Refer to the Great Bubbles data in P10-51A. The company sold 70,000 bubble kits during March, and its actual operating income was as follows: GREAT BUBBLES, INC. Master Budget Income Statement Month...

Answered: 1 week ago

Question

★★★★★
Write a program that accepts any number of homework scores ranging in value from 0 through 10. Prompt the user for a new score if they enter a value outside of the specified range. Prompt the user...

Answered: 1 week ago

Question

★★★★★
The Belik Company has the capacity to produce 5,000 units per year. Its predicted operations for the year are as follows: Sales (4,000 units @ $ 20 each) ......... $ 80,000 Manufacturing costs:...

Answered: 1 week ago

Question

★★★★★
Thomas sells coffee machine products to small and medium-sized enterprises, mainly divided into semi-automatic type There are two types of coffee machines and fully automatic coffee machines. In...

Answered: 1 week ago

Question

★★★★★
1)Every year, American television introduces many new shows, but only about one-third of which survive past their first season. Why do you think studios bother to make new shows if most of them will...

Answered: 1 week ago

Question

★★★★★
Cupola Fan Corporation issued 12%, $580,000, 10-year bonds for $552,000 on June 30, 2024. Debt issue costs were $3,300. Interest is paid semiannually on December 31 and June 30. One year from the...

Answered: 1 week ago

Question

★★★★★
5 points Save Answer A. A useful tool used by marketers to help generate growth opportunities is the Ansoff Strategic Opportunity Matrix. Referring to the Matrix, identify and explain the growth...

Answered: 1 week ago

Question

★★★★★
Relating to the new Apple Glasses please answer the following questions with full answers: 1- Describe possible ethical issues Apple may encounter when Apple promotes this product. 2- You will soon...

Answered: 1 week ago

Question

★★★★★
Answer the following questions. You should make references to your resume and the job posting you have used in your Resume/Cover Letter assignment. Hint: Share an example using the STAR Method...

Answered: 1 week ago

Question

★★★★★
Equipment Purchasing Equipment purchasing can be a long and drawn out process. Most large pieces of equipment such as dishmachines or combi ovens must be planned for 5 to 10 years in advance of...

Answered: 1 week ago

Question

★★★★★
When is it appropriate to show grace toward others?

Answered: 1 week ago

Question

★★★★★
Think about the most effective work climate youve ever experienced. Describe the communication in that climate. How does the communication in that situation refl ect the skills and principles...

Answered: 1 week ago

Question

★★★★★
Do you perceive any relationship-level meanings that arent being addressed in this conversation?

Answered: 1 week ago

Previous Question Next Question