Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 09, 2023

Net sales $65,000, beginning inventory $35,000, ending inventory $20,000, inventory days on hand 30 days. The inventory turnover is?

Step by Step Solution

★★★★★

3.49 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Answer I The correct answer is 1217 Explanation Working notes Net sale... 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

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

Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

9th Edition

1337614689, 1337614688, 9781337668262, 978-1337614689

More Books

Students also viewed these Accounting questions

Question

★★★★★

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...

Answered: 1 week ago

Question

★★★★★

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...

Answered: 1 week ago

Question

★★★★★

An airplane wing is subjected to a lift force (F) created by the airflow over its surface. This force is a function of the density (p) and viscosity of the air (u), the chord length (L) of the wing,...

Answered: 1 week ago

Question

★★★★★

advice on how healthcare leaders can move their organizations toward being an HRO?

Answered: 1 week ago

Question

★★★★★

The Berg Company began operations on January 1, 2007 and uses the FIFO method in costing its raw material inventory. During 2008 management is contemplating a change to the LIFO method and is...

Answered: 1 week ago

Question

★★★★★

What are two types of cost externalities that auditors impose on other groups when using a concurrent auditing technique?

Answered: 1 week ago

Question

★★★★★

Describe how mixed methods analysis and interpretation issues are addressed.

Answered: 1 week ago

Question

★★★★★

Cousins Salted Snack Company is considering two possible investments: a delivery truck or a bagging machine. The delivery truck would cost $39,287 and could be used to deliver an additional 48,200...

Answered: 1 week ago

Question

★★★★★

Working individually you are to create three scripts. These scripts will perform the functions described below. Script 1: Perform a ls -al on the files within the user's home directory and save it to...

Answered: 1 week ago

Question

★★★★★

You are the recently appointed accountant at City Ltd is a new company, which will be incorporated on 1 st April 2020. Initially the company will manufacture and sell a single electronic product used...

Answered: 1 week ago

Question

★★★★★

Midnight Oil and Gas is considering building a pipeline from a remote source of gas with only a 10-year supply of reserves. This qualifies the pipeline for a CCA rate of 20 percent rather than the...

Answered: 1 week ago

Question

★★★★★

Starting from your project idea, generate the complete structure of the Technical Title Project document, developing the "Preliminary or presentation section", corresponding to the contents of unit...

Answered: 1 week ago

Question

★★★★★

4.49 Mr. Williams deposits $200 in the bank at the end of each quarter. If the bank pays 6% per year. compounded quarterly. how much money will Mr. Williams have accumulated at the end of 12 years?...

Answered: 1 week ago

Question

★★★★★

Question 1 Suppose there are only two goods in the economy: Yo-yos and Marbles. Bob only cares about his consumption of Yo-yos; the more Yo-yos he has the happier he is, regardless of his consumption...

Answered: 1 week ago

Question

★★★★★

Mar Company has two decentralized divisions, X and Y. Division X has always purchased certain units from Division Y at $75 per unit. Because Division Y plans to raise the price to $100 per unit,...

Answered: 1 week ago

Question

★★★★★

Salem-Winston Corporation is emerging from reorganization proceedings under Chapter 11 of the bankruptcy laws. The company's balance sheet shows total assets of $4,500,000, liabilities subject to...

Answered: 1 week ago

Question

★★★★★

In a limited company which of the following is shown in the statement of changes in equity? Select one or more: a. Loan note interest b. Dividends paid c. New capital introduced d. Directors'...

Answered: 1 week ago

Question

★★★★★

As of January 1, 2018, Room Designs, Inc. had a balance of $9,900 in Cash, $3,500 in Common Stock, and $6,400 in Retained Earnings. These were the only accounts with balances in the ledger on January...

Answered: 1 week ago

Question

★★★★★

Conceptually, why should an analyst expect valuation based on dividends, valuation based on the free cash flows for common equity shareholders, and valuation based on the residual income approach to...

Answered: 1 week ago

Question

★★★★★

In what sense is the interest coverage ratio more a measure for assessing short-term liquidity risk than it is a measure for assessing long-term solvency risk?

Answered: 1 week ago

Question

★★★★★

The concept of accounting quality has several dimensions, but two characteristics often dominate: the accounting information should be a fair representation of performance for the reporting period,...

Answered: 1 week ago

Question

★★★★★

Watch television for an hour, paying close attention to the commercials. Alternatively, go through an advertisementheavy magazine such as Vogue. What are the values being sold to the viewer or...

Answered: 1 week ago

Question

★★★★★

Did members of your nation or any of the other nations treat each other as mad, bad, sick, or stupid, and say anything like We cannot reason with people like that!?

Answered: 1 week ago

Question

★★★★★

What is the place (if any) of faith (of any kind) in politics? What are the advantages of a faithbased government? The disadvantages?

Answered: 1 week ago

Previous Question Next Question