Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cost of goods sold computations for Crane Company and Bramble Company are shown below. Crane Company Bramble Company Beginning inventory $ 49,000 $ 73,000

The cost of goods sold computations for Crane Company and Bramble Company are shown below.

Crane Company

Bramble Company

Beginning inventory

$ 49,000

$ 73,000

Cost of goods purchased

266,080

254,500

Cost of goods available for sale

315,080

327,500

Ending inventory

99,000

105,000

Cost of goods sold

$216,080

$222,500

(a1)

Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.)

Crane Company

Bramble Company

Inventory turnover

enter a number rounded to 2 decimal places

enter a number rounded to 2 decimal places

eTextbook and Media

Assistance Used

Save for Later

Attempts: 0 of 5 used

Submit Answer

(a2)

Compute days in inventory for each company. (Round answers to 0 decimal places, e.g. 1,250. Use 365 days for calculation.)

Crane Company

Bramble Company

Days in inventory

enter the number of days rounded to 0 decimal places

days

enter the number of days rounded to 0 decimal places

days

please help

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

Step: 3

blur-text-image

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

Retirement Income Recipes In R From Ruin Probabilities To Intelligent Drawdowns

Authors: Moshe Arye Milevsky

1st Edition

3030514331, 9783030514334

More Books

Students also viewed these Accounting questions

Question

Explain how to reward individual and team performance.

Answered: 1 week ago