FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information was available for Vaughn Company at December 31, 2020: beginning inventory $20000; ending inventory $120000; cost of goods sold $2555000; and sales

image text in transcribed
The following information was available for Vaughn Company at December 31, 2020: beginning inventory $20000; ending inventory $120000; cost of goods sold $2555000; and sales $1420000. Vaughn's days in inventory in 2020 was O 18.0 days. O 17.1 days. O 2.9 days. O 10.0 days

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

Auditing That Matters Case Studies

Auditing That Matters Case Studies

Authors: Norman David Marks

1st Edition

B089J17FFW, 979-8650160410

More Books

Students also viewed these Accounting questions

Question

★★★★★
Michael Paints has two processes-Coloring Department and Mixing Department. Michael sold 450 gallons on account at $110 per gallon. The total cost of processing was $385000 for 5,500 gallons of...

Answered: 1 week ago

Question

★★★★★
Modify protocol Shout so that the initiator can determine when the broadcast is globally terminated. (Hint: integrate in the protocol the convergecast operation for rooted trees.)

Answered: 1 week ago

Question

★★★★★
Panic attacks affect approximately 18% of adolescents; however, panic disorder is relatively rare, affecting only 1% of youths.

Answered: 1 week ago

Question

★★★★★
1. One of the concerns raised by Carlisle was that if attorneys could be held liable for their reasonable misinterpretations of the FDCPAs requirements, there would be a flood of lawsuits against...

Answered: 1 week ago

Question

★★★★★
Consider the following information: Rate of Return if State Occurs State of Probability of Economy State of Economy Stock A Stock B Recession .10 .04 .17 Normal .60 .09 .12 Boom .30 .17 .27 a....

Answered: 1 week ago

Question

★★★★★
Leah Merryweather stock has an expected rate of return of 12.5% and a standard deviation of 26.3%. Which one of the following best describes the probability that this stock will lose 40% or more in...

Answered: 1 week ago

Question

★★★★★
5S is one of the most widely adopted techniques from the lean manufacturing toolbox. Based on the "house of lean", it's provide an overview of the tools and methods of lean management that can be...

Answered: 1 week ago

Question

★★★★★
As a manufacturing company, Company Kappa sells their sachets of powdered juices to retailers, supermarkets and distributors instead of direct customers. Having said this, they usually deliver...

Answered: 1 week ago

Question

★★★★★
What process improvements can HeroEnergy adopt to improve standardised data, financial reporting and employee engagement? A newly established government agency focusing on renewable energy has just...

Answered: 1 week ago

Question

★★★★★
The Temper-Tone Steel Company produces two major products, a stainless steel sheet called Flextin and stainless steel silverware. Both products go through the same initial production process where...

Answered: 1 week ago

Question

★★★★★
Vaughn Co. purchased 61,7% Ivanhoe Company bonds for $61000 cash. Interest is payable annually on January 1. If 28 of the securities are sold on January 1 for $32700, the entry would include a credit...

Answered: 1 week ago

Question

★★★★★
Ethics. Teamwork. Form a team of three to five students. Each of you will listen to a television news show for one week or read the daily newspaper to identify situations reported in the news that...

Answered: 1 week ago

Question

★★★★★
How do these technology tools change communication use: Wi-fi, podcasts, and blogs? (Objective 1)

Answered: 1 week ago

Question

★★★★★
Describe two types of laws that affect agreements between two or more parties. (Objective 3)

Answered: 1 week ago

Previous Question Next Question