Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 11, 2024

Knowles Company has an inventory turnover of 8.75, and its inventory amounts to $3,400,000. What is the amount of cost of goods sold? $29,750,000 $388,571

Knowles Company has an inventory turnover of 8.75, and its inventory amounts to $3,400,000. What is the amount of cost of goods sold?

$29,750,000

$388,571

$38,857,143

$2,795,000

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

Principles of Auditing and Other Assurance Services

Authors: Ray Whittington, Kurt Pany

20th edition

77729145, 978-1259295430, 1259295435, 978-0077729141

More Books

Students also viewed these Accounting questions

Question

★★★★★

Using the information from RE12-9, assume that Americas Sweethearts is a reporting unit of Grand Champion. At the end of 2017, Americas Sweethearts has a lair value of $720,000 and a book value of...

Answered: 1 week ago

Question

★★★★★

A plc issues 50,000 share options to its employees on 1 January 2008 which the employees can only exercise if they remain with the company until 31 December 2010. The options have a fair value of 5...

Answered: 1 week ago

Question

★★★★★

Under what conditions is the sampling distribution of ???????? ???????? approximately normally distributed?

Answered: 1 week ago

Question

★★★★★

Explain why automobile manufacturers produce their own engines but purchase mirrors from independent suppliers.

Answered: 1 week ago

Question

★★★★★

Question 3 1 Your database administrator has granted you the CREATE ANY PROCEDURE privilege. Which operations can you successfully perform in the database with this privilege? ( Choose all that...

Answered: 1 week ago

Question

★★★★★

Electro Company manutoctures transmissions for electric cars Management reports ending finished goods inventory for the first quarter at 79.200 units. The following unit sales are budgeted during the...

Answered: 1 week ago

Question

★★★★★

Income Statement for the ear Ended 3 0 Net Saies ( All on Credit ) . 7 4 1 8 COGS. 5 2 7 1 Depreciation. 7 4 5 EBIT 1 4 0 2 Interest. 3 0 5 . Taxes 3 8 4 Net Incorne. 7 1 3 Dividends paid 2 5 0...

Answered: 1 week ago

Question

★★★★★

When prioritizing risk, what are the two primary criteria that need to be determined for analyzing the level of risk for a particular event? Using these two criteria, how would you describe the risk...

Answered: 1 week ago

Question

★★★★★

Tanya ( born 1 0 - 3 1 - 9 0 ) is single, has no dependents and will not itemize deductions. She cannot be claimed as a dependent by anyone else. Tanya can claim adjustments of $ 8 0 0 for her...

Answered: 1 week ago

Question

★★★★★

Bugs NoMore Company manufactures a product effective in controlling beetles. The company uses a standard cost system and a flexible budget. Standard cost of a gallon is as follows: Direct material: 2...

Answered: 1 week ago

Question

★★★★★

Your director at the department of Home Affairs has appointed you as the lead project manager for a project to rollout the new card type identification to all South African citizens, replacing the...

Answered: 1 week ago

Question

★★★★★

How would you recommend communicating information about the termination with the employees who had observed this incident, and about respectful work practices expected in the future?

Answered: 1 week ago

Question

★★★★★

How would you design a benefit package for a diverse group of workers?

Answered: 1 week ago

Question

★★★★★

Briefly describe the benefits that an organization might give employees to provide them with greater financial security.

Answered: 1 week ago

Previous Question Next Question