Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 12, 2024

The Income Statement for ABC Co for the year ended 12/31/2022 is reporting Cost of Goods Sold of $2,550,000. The balance sheet is reporting Inventory

The Income Statement for ABC Co for the year ended 12/31/2022 is reporting Cost of Goods Sold of $2,550,000. The balance sheet is reporting Inventory at 12/31/2021 of $400,000 and 12/31/2022 of $450,000.

What were the Days Sales in Inventory for 2022?

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

Advanced Quality Auditing An Auditors Review Of Risk Management Lean Improvement And Data Analysis

Authors: Lance B Coleman

1st Edition

163694082X, 978-1636940823

More Books

Students also viewed these Accounting questions

Question

★★★★★

How many rows of output would be produced if the ROLLUP used in your query were to take the following form: GROUP BY ROLLUP (MONTH, YEAR, REG_NAME)? Write a query to verify your result?

Answered: 1 week ago

Question

★★★★★

Your friend Lawrence recently confided in you that he has been diagnosed with major depression. He heard about several different kinds of treatments: psychodynamic therapy, exposure therapy, REBT,...

Answered: 1 week ago

Question

★★★★★

Compare the Boulder and Vail models of graduate training for clinical psychologists, and describe the status of both approaches?

Answered: 1 week ago

Question

★★★★★

The total wages and salaries earned by all employees of Langen Electronics, Ltd. during March, as shown in the labor cost summary and the schedule of fixed administrative and sales salaries, are...

Answered: 1 week ago

Question

★★★★★

The Income Statement for ABC Co for the year ended 12/31/2022 is reporting Cost of Goods Sold of $2,550,000. The balance sheet is reporting Inventory at 12/31/2021 of $400,000 and 12/31/2022 of...

Answered: 1 week ago

Question

★★★★★

Month Occupancy- Days Electrical Costs January 3,410 $ 13,889 February 3,250 $ 13,008 March 4,470 $ 15,158 April 1,940 $ 8,342 May 1,050 $ 4,515 June 450 $ 1,935 July 3,270 $ 13,094 August 4,510 $...

Answered: 1 week ago

Question

★★★★★

Which of the statements below are correct in regards to the Cloud Choice Profit Model? No product authorization is required for the Cloud Choice Profit model The customer signs SAP paper for the...

Answered: 1 week ago

Question

★★★★★

An experimental psychologist plans a study in which a crucial step is offering participants a food reward. It is important that the three food rewards be equal in appeal. Thus, a pre-study was...

Answered: 1 week ago

Question

★★★★★

Per the TAR Purchase and Sales Agreement, there is a period of time after the inspection period in which the parties can agree to any repairs. What is this period of time referred to as? Unset...

Answered: 1 week ago

Question

★★★★★

Researchers are interested in whether there is a difference between the number of brothers and number of sisters for graduate students. So they randomly selected 20 graduate students and asked each...

Answered: 1 week ago

Question

★★★★★

how would you compare the results between the lease assets vs total assets and the lease liabilities vs total liabilities visualization? finance lease assets are higher than finane lease liabilities...

Answered: 1 week ago

Question

★★★★★

3. Is the length of the probationary period in the last chance agreement reasonable? If not, does this period make the last chance agreement unreasonable? On March 27, 1998, the Company, the Union,...

Answered: 1 week ago

Question

★★★★★

5. You be the arbitrator. Should the Grievance be sustained or denied? Explain your reasoning. Background On March 30, 2006, David Gates was arrested and charged with felony Conspiracy to Distribute...

Answered: 1 week ago

Question

★★★★★

6. You be the arbitrator. You decide and give your reasoning. On March 27, 1998, the Company, the Union, and Mr. Danny Webb, the Grievant, entered into and signed the following Agreement: Without...

Answered: 1 week ago

Previous Question Next Question