SCC Co. reported the following for the current year:
Net sales $ 59,000
Cost of goods sold $ 48,800
Beginning balance in inventory $ 3,100
Ending balance in inventory $ 9,100
Compute (a) inventory turnover and (b) days' sales in inventory.
Hint: Recall that inventory turnover uses average inventory, and days' sales in inventory uses the ending balance in inventory."
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “SCC Co. reported the following for the current year: Net sales $ 59,000 Cost of goods sold $ 48,800 Beginning balance in inventory $ 3,100 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Tennies Clinic uses client-visits as its measure of activity. During November, the clinic budgeted for 3,500 client-visits, but its actual level of activity was 3,490 client-visits.
Answers (1)
A subsidiary can pay only 50% of its profits to its parent company unless the subsidiary's accumulated retained earnings have been built up to at least 50% of the book value of capital stock. Group of answer choices
Answers (1)
You believe that the Non-Stick Gum Factory will pay a dividend of $3 on its common stock next year. Thereafter, you expect dividends to grow at a rate of 2% a year in perpetuity.
Answers (1)
Kodak possesses the leading imaging technology. This technology has allowed the company to differentiate its products from those offered by rivals. Imaging technology is Kodak's:a. support activity. b. retired product. c. distinctive competence. d.
Answers (1)
option with an exercise price of $109 and one year to expiration. The underlying stock pays no dividends, its current price is $109, and you believe it has a 50% chance of increasing to $131 and a 50% chance of decreasing to $87.
Answers (1)
New Questions in Business
Which tax system requires higher-income taxpayers to have lower tax rates, even though they pay a larger amount of tax when compared to lower-income taxpayers?
Answers (1)
8. Darrin Brown bought a pub. The purchase price was $695,000. An appraiser provided the following appraisal values: land $320,000: building $370,000 and equipment $60,000. What cost should be allocated to the building
Answers (1)
What is represented by a shift to the right in a demand curve? increase in substitution decrease in demand decrease in income increase in demand?
Answers (2)
Monica has found that her contribution margin per hour of time for her highest selling product is $2,500.
Answers (1)
Where is the best place to look for a firmware upgrade for a printer?
Answers (1)