FREE Trial

Use the information provided in each row to calculate the missing values (shaded boxes). Each row is

Question:

Use the information provided in each row to calculate the missing values (shaded boxes). Each row is an independentsituation.

Use the information provided in each row to calculate the
Transcribed Image Text:

Cost of sales inventory turnover ratio inventory on hand Average InventoryAverage number of days a.S 625,000 S 46.1 4,312,000 152,100 d.4,875,000 2900,000 b. 4.77 C. 11.0

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

Step by Step Answer:

Answer rating: 80% (15 reviews)

Cost of sales COS Average inventory AI Inventory turnover ratio ITR Ave...View the full answer


answer-question-section
Answered By
tutor-profile-image
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day. I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
4.80+ 2+ Reviews 10+ Question Solved
Related Book For  book-img-for-question
Financial Accounting A Critical Approach

Financial Accounting A Critical Approach

ISBN: 978-1259066528

4th edition

Authors: John Friedlan

See More Books
Question Posted:
See More Questions

Related Video

Inventory turnover is a key metric that helps businesses evaluate the efficiency of their operations. A high turnover ratio is generally considered positive, indicating that the company is effectively selling its inventory and making efficient use of its resources. On the other hand, a low turnover ratio may indicate issues such as overstocking or slow sales and may require further examination to identify and address the underlying causes. Businesses use this ratio to make decisions about inventory levels, production schedules, and pricing strategies. It also helps businesses to identify areas where they may need to make improvements, such as reducing lead times for production or optimizing sales and marketing efforts. Additionally, inventory turnover is used by investors and analysts as a key performance indicator to evaluate the financial health and growth potential of a company.

Students also viewed these Managerial Accounting questions

Waking Up For Him - ISBN: B0CLYFY6QW - Free Book