Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 23, 2024

The following information was available for Swifty Company at December 31, 2020: beginning inventory $117000; ending inventory $83000; cost of goods sold $1250000; and sales

The following information was available for Swifty Company at December 31, 2020: beginning inventory $117000; ending inventory $83000; cost of goods sold $1250000; and sales $1340000. Swifty's days in inventory in 2020 was O 34.2 days. O 24.2 days. O 27.2 days. O 29.2 days

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

Financial Statement Analysis And Business Valuation Case Studies Using Excel

Authors: Dr Alessio Faccia

1st Edition

979-8863186412

More Books

Students also viewed these Accounting questions

Question

__________ a division or department that generates monetary returns for the organization.

Answered: 1 week ago

Question

★★★★★

The balance sheet for Lakeland Corporation as of December 31, 2011, is as follows: During 2012, the following transactions were completed in the order given: a. Lakeland reacquired 750 shares of...

Answered: 1 week ago

Question

★★★★★

The following information was available for Swifty Company at December 31, 2020: beginning inventory $117000; ending inventory $83000; cost of goods sold $1250000; and sales $1340000. Swifty's days...

Answered: 1 week ago

Question

★★★★★

Moonland Company's income statement contained the following errors Ending inventory, December 31, 2021, understated by $7,500. Depreciation expense for 2021 overstated by $ 1,500. What is the effect...

Answered: 1 week ago

Question

★★★★★

Hit and trial method of balancing chemical equations through example

Answered: 1 week ago

Question

★★★★★

What happens when? (1) Potassium chloride undergoes thermal decomposition. Give the chemical equation. (1) Calcium carbonate reacts with hydrochloric acid. Give the chemical equation. (iii) Aqueous...

Answered: 1 week ago

Question

★★★★★

A farmer connects a cylindrical tank of 10m diameter and 2m deep built in his field to a canal through a pipe of internal diameter 20 cm. If water is flowing in the pipe at a speed of 3 km/h, then...

Answered: 1 week ago

Question

★★★★★

Water is flowing at a speed of 10 km/h in a canal 6m wide and 1.5 m deep. How much area will this canal be able to irrigate in 30 minutes, while 8cm deep water is required for irrigation.

Answered: 1 week ago

Question

★★★★★

A cylindrical bucket 32cm high and base radius 18cm is filled with sand. This bucket is emptied on the ground and a conical heap of this sand is made. The height of this conical heap is 24 cm. So...

Answered: 1 week ago

Previous Question Next Question