Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 27, 2024

The following data were taken from the financial records of Oriole Company. Net sales Beginning inventory Purchases Ending inventory (a) 2025 Inventory turnover $6,420,000

The following data were taken from the financial records of Oriole Company. Net sales Beginning inventory Purchases Ending inventory (a) 2025 Inventory turnover $6,420,000 940,300 4,684,945 1,144,000 2024 $6,159,000 835,400 4,632,935 940,300 Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2025 times 2024 times

Step by Step Solution

★★★★★

3.44 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

Inventory turnover is a financial ratio that measures how efficiently a company manages its inventor... 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

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

4th Canadian edition

1118856996, 978-1118856994

More Books

Students also viewed these Accounting questions

Question

a) How does the descending order merge sort algorithm work on the following data? y pzxrt Here, x-last two digits of your student id+1, y=x+3, z=x+y, p=y+z, r=x+2, t-50 b) Discuss the time complexity...

Answered: 1 week ago

Question

Based on Making Globalization Work by Joseph Stiglitz . What recommendations would you make to business owners who want to pursue a global business expansion based on this book. Please write in essay...

Answered: 1 week ago

Question

LIST AND DESCRIBE EACH POINT DISCUSSED. LIST AND CAUTIONS OR WARNING HE EMPHASIZES TO AVOID IN READING PEOPLE. PROVIDE A THOUGHTFUL ANALYSIS OF THE VIDEO AND Its CONTENT AND WHAT YOU MAY HAVE LEARNED...

Answered: 1 week ago

Question

★★★★★

Suppose that the government of Malud increases both its own spending and autonomous taxes by $300 and the economys multiplier equals 2.5. If consumers spend 95% of their disposable (after-tax)...

Answered: 1 week ago

Question

★★★★★

For many firms, cash and inventory needs may grow less than proportionally with sales. When we recognize this fact, will the firm's internal growth rate be higher or lower than the level predicted by...

Answered: 1 week ago

Question

★★★★★

Given the second-order low-pass filter in figure, design a filter that has Ho = 100 and fc = 5 kHz. Set R1 = R3 = 1k?, and let R2 = R4 and C1 = C2. Use an op-amp model with Ri = ?, R0 = 0, and A =...

Answered: 1 week ago

Question

★★★★★

2. Give ideas for ways any family, even those with few economic resources, can celebrate accomplishmenta favorite food; the chance to choose a game to play; a comment to a special person such as an...

Answered: 1 week ago

Question

★★★★★

Only one firm produces and sells soccer balls in the country of Wiknam, and as the story begins, international trade in soccer balls is prohibited. The following equations describe the monopolists...

Answered: 1 week ago

Question

★★★★★

please follow the tables and give me the answer??Problem 7-1A Special journals, subsidiary ledgers, trial balance-perpetual LO C3, P1, P2 Required information Problem 7-1A Special journals,...

Answered: 1 week ago

Question

★★★★★

The July transactions of Acorn Industries are described in Problem 7-2B. Problem 7-2B, Acorn Industries completes these transactions during July of the current year (the terms of all its credit sales...

Answered: 1 week ago

Question

★★★★★

An axle 1 metre long supported in bearings at its ends carries a fly wheel weighing 30 kN at the centre. If the stress (bending) is not to exceed 60 MPa, find the diameter of the axle. Example 5.8. A...

Answered: 1 week ago

Question

★★★★★

CP8-10-submit in Canvas (round all answers to the nearest dollar) n PV$1 FV$1 PVA FVA 5 6% 0.747258 4.212364 1.338226 5.637093 60 0.50% 0.741372 1.348850 51.725561 69.770031 1. You want to buy a...

Answered: 1 week ago

Question

★★★★★

Assume a budget for City has been approved and the following information is available: . Estimated inflow from revenue $900,000. Estimated inflow from general long-term debt $100,000. Transfer from...

Answered: 1 week ago

Question

★★★★★

You notice several adult guests playing in the pool. Their play is getting slightly more aggressive and loud and several guests who were near them have moved away. How would you respond?

Answered: 1 week ago

Question

★★★★★

Kubin Companys relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $...

Answered: 1 week ago

Question

★★★★★

1. You are developing a multimedia product to be sold on CD-ROM. You wish to use the following media assets within this product. How would copyright and intellectual property laws affect your use of...

Answered: 1 week ago

Question

★★★★★

Yello bus lines uses the units-of- activity method in depreciating its buses. One bus was purchased on January 1, 2015, at a cost of $148,000. Over its 4-year useful life, the bus is expected to be...

Answered: 1 week ago

Question

★★★★★

The electric field due to a line charge is given by where l is a constant. Show that E is solenoidal. Show that it is also conservative. E =

Answered: 1 week ago

Question

★★★★★

Yars Company operates a small factory in which it manufactures two products: A and B. Production and sales results for last year were as follows: For purposes of simplicity, the firm averages total...

Answered: 1 week ago

Question

★★★★★

Waterways puts much emphasis on cash flow when it plans for capital investments. The company chose its discount rate of 8% based on the rate of return it must pay its owners and creditors. Using that...

Answered: 1 week ago

Question

★★★★★

Waterloo Co. sells product P-14 at a price of $48 a unit. The per-unit cost data are direct materials $15, direct labour $10, and overheads $12 (75% variable). Waterloo Co. has sufficient capacity to...

Answered: 1 week ago

Question

★★★★★

8.2. Whether a woman becomes pregnant in the next year is a categorical variable with categories (yes, no), and whethershe and herpartner use contraceptives is another categorical variable with...

Answered: 1 week ago

Question

★★★★★

8.3. Every year, a large-scale poll of college freshmen conducted by the Higher Education Research Institute at UCLA asks their opinions about a variety of issues. In 2002, 46% of men and 35% of...

Answered: 1 week ago

Question

★★★★★

8.12. In the GSS. subjects who were married were asked the happiness oftheir marriage, the variable coded as HAPMAR. (a) Go to sda.berkeley.edu/GSS/ and construct a contingency table for 2006...

Answered: 1 week ago

Previous Question Next Question