Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 21, 2024

JP Vineyards has sales of $890,000, a grossprofit margin of 0.304, and inventory of $178,000. What is thecompany's inventory turnover ratio? Round to two decimal

JP Vineyards has sales of $890,000, a grossprofit margin of 0.304, and inventory of $178,000. What is thecompany's inventory turnover ratio? Round to two decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

13th edition

1259444953, 978-1259444951

Students also viewed these Finance questions

Question

Jane Doe is single and claims 2 withholding allowances. If her weekly gross earning is $1,450, then determine the Federal Withholding Tax.

Answered: 1 week ago

Question

★★★★★

Allen visits Reno, Nevada, once a year to gamble. This year his gambling loss was $25,000. He commented to you, "At least I didn't have to pay for my airfare and hotel room. The casino paid that...

Answered: 1 week ago

Question

★★★★★

5.1 A work center consists of 3 machines each working a 16-hour day for 5 days a week. What is the weekly available time?

Answered: 1 week ago

Question

★★★★★

understand under what circumstances prolonged work hours have adverse health effects;

Answered: 1 week ago

Question

★★★★★

A 24-kg uniform cylindrical roller, initially at rest, is acted upon by a 100-N force as shown. Knowing that the body rolls without slipping, determine (a) The velocity of its center G after it has...

Answered: 1 week ago

Question

★★★★★

Nordway Corporation acquired 90 percent of Olman Companys voting shares of stock in 20X1. During 20X4, Nordway purchased 52,000 Playday doghouses for $28 each and sold 37,000 of them to Olman for $35...

Answered: 1 week ago

Question

★★★★★

Please don't forget dates, and be specific with the terms The following are two independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent...

Answered: 1 week ago

Question

★★★★★

Since the proposed medication is injectable are you planning on premediating your patients to avoid any potential injection related reactions?

Answered: 1 week ago

Question

★★★★★

2 . As we move forward with the workshop, we will discuss how important it is to communicate to your audience ( as Florence Nightingale did ) . What does the above graph / chart communicate? What are...

Answered: 1 week ago

Question

★★★★★

Do ITACS students represent information security vulnerabilities to Temple University, each other, or both? Explain your answer.

Answered: 1 week ago

Question

★★★★★

Question 3: All employees of a. certain company have medical coverage, 30% have deluxe coverage, 60% have standard coverage and 10% have economy coverage. From recorded data, the probability that an...

Answered: 1 week ago

Question

★★★★★

Give a detailed answer,Why Is the Demand for Online Shopping Increasing? Explain !

Answered: 1 week ago

Question

★★★★★

Complete the cost of goods manufactured schedule for Crane Company. CRANE COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) $211,000 Direct...

Answered: 1 week ago

Question

★★★★★

The landing gear of an aircraft with: mass of 2000 kg the spring-mass-damper system Consider that the runway surface is y(t) = 0.2 cos 157.08t stiffness of the spring is 5 x 105 N/m. What is the...

Answered: 1 week ago

Question

★★★★★

25. Credit Analysis. Look back at the previous problem, but now suppose that if a customer defaults on a payment, you can eventually collect about half the amount owed to you. Will you be more or...

Answered: 1 week ago

Question

★★★★★

8. Merger Gains and Costs. Velcro Saddles is contemplating the acquisition of Pogo Ski Sticks, Inc. The values of the two companies as separate entities are $20 million and $10 million, respectively....

Answered: 1 week ago

Question

★★★★★

9. Stock versus Cash Offers. Suppose that instead of making a cash offer as in Practice Problem 8, Velcro Saddles considers offering Pogo shareholders a 50% holding in Velcro Saddles. (LO2) a. What...

Answered: 1 week ago

Previous Question Next Question