(Calculating inventory turnover ratio and the average number of days inventory on hand, LO 7) You are...

Question:

(Calculating inventory turnover ratio and the average number of days inventory on hand, LO 7) You are provided with the following information about Kepenkeck Inc. (Kepenkeck):

image text in transcribed

Required:

a. Calculate Kepenkeck’s inventory turnover ratio for the year ended November 30, 2005.

b. What is the average length of time that it took Kepenkeck to sell its inventory in 20052

c. Is Kepenkeck’s inventory turnover ratio satisfactory? What would you need to know to fully answer this question?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting A Critical Approach

ISBN: 9780130193728

1st Edition

Authors: John Friedlan

See More Books

Question Posted: Jun 28, 2024 10:01 AM

See More Questions

Q4- The company sells three basket types currently with the following distribution of sales: 1) Exam Care Package equates to 50% of sales 2) We Miss You equates to 30 % of sales 3) Let Them Down...
Question: What as the average weekly safety inventory level of refined sugar from the beginning January 2022 to the end of July 2022? A. 512,465.9691 metric tons per week B. 316,002.1474 metric tons...
pls i need help with the samsung wiley Annual Report Project only the other 4 Attachment is a guideline telling you what need to be done.pls see the attached Apple company wiley Annual Report ANNUAL...
Why is the number of equivalent units for materials only sometimes equal to the equivalent units for conversion?
Identify the five major methods for resolving conflict. Give an example of how each might be applied in a hypothetical project team conflict episode.
2. More on the AFN (Additional Funds Needed) equation Green Moose Industries reported sales of $720,000 at the end of last year, but this year, sales are expected to grow by 10%. Green Moose expects...
Ghemawat left company-specific questions unanswered, but see if you can answer this one: in the case of Starbucks, what are the interactions between company-specific features and the four dimensions...
The contribution margin income statement of Delectable Donuts for August 2012 follows: Delectable sells four dozen plain donuts for every dozen custard-filled donuts. A dozen plain donuts sells for...
In which section of the Income Statement is the Depreciation Expense for an office copier machine located? Debit to Cost of Goods Sold, Credit to Cash, Credit to Sales Revenue Debit to Sales Revenue,...
(Lower of cost and market, LO 3) Massawippi Inc. (Massawippi) uses the lower of cost and market rule to value its inventory. Massawippi defines market as net realiz- able value. Massawippis.inventory...
(Calculating cost of sales and ending inventory using average cost, FIFO, and LIFO cost flow assumptions when prices are stable, LO 1, 2) The following information is provided for Exlou Ltd. (Exlou):...
(ii) Do people feel that they have the freedom to make innovations in their own jobs?
The element is subjected to the state of stress shown. If the material is machine steel having a yield stress of $\sigma_{Y}=750 \mathrm{MPa}$, determine the factor of safety with respect to...
Determine the vertical displacement of the ring at point $B$. $E I$ is constant. B P A
In an air-pollution study performed at an experiment station, the following amount of suspended benzenesoluble organic matter (in micrograms per cubic meter) was obtained for eight different samples...
The figure shows a sketch of the curve with equation y = f(x). The curve passes through the points (0, 3) and (4, 0) and touches the x-axis at the point (1, 0). On separate diagrams, sketch the...
An object is placed $200 \mathrm{~mm}$ from a diverging thin lens that has a focal length of $-500 \mathrm{~mm}$. What are (a) the image distance and $(b)$ the magnification? (c) Draw a...
The following accounts, with the balances indicated, appear in the ledger of Brownie Points Gifts Inc. on December 1 of the current year: The following transactions relating to payroll, payroll...
1. What are some current issues facing Saudi Arabia? What is the climate for doing business in Saudi Arabia today? 2. Is it legal for Auger's firm to make a payment of $100,000 to help ensure this...
Required information FASTDELIVERIES, INCORPORATED Income Statement Req 6 B Prepare the statement of retained ear ninqs.Req 6 E Prepare the balance sheet. ( Amounts to be deducted should be indic ated...
Andretti Company has a single product called a Dak. The company jowna. y prodgces and sellit B6.000 Daks each year at a selling price of $56 per unit The company's unit costs at this evel of actuyty...
Complete the following 12. Revenues are recognized in the accrual basis of accounting

(Calculating inventory turnover ratio and the average number of days inventory on hand, LO 7) You are...

Question:

Cost of sales for the year ended November 30, 2005 Inventory balance on November 30, 2004 Inventory balance on November 30, 2005 $13,525,000 $ 3,450,000 $ 3,900,000

Step by Step Answer:

Financial Accounting A Critical Approach

Students also viewed these Business questions