Question
7 XYZ Corporation had the following data in 2022 below: Total assets = P300.000 Gross profit margin = 25% Quick ratio = 0.80 x
7 XYZ Corporation had the following data in 2022 below: Total assets = P300.000 Gross profit margin = 25% Quick ratio = 0.80 x Bond payable = P60.000 Days sales outstanding = 36 days Debt ratio = 50% Retained earnings = P97.500 Times interest earned= 6x Inventory turnover = 5 x Total assets turnover = 1.5 x No. of days in a year = 360 days Tax rate = 35% Compute the average merchandise inventory. (2 Points) P32.500 P67.500 P45.000 P30.000
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To compute the average merchandise inventory we can use the formula for inventory turnover textInventory Turnover fracCost of Goods SoldAverage Mercha...Get Instant Access to Expert-Tailored Solutions
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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