The following information was available for the year ended December 31, 2019: Net sales $ 894,250 Cost of goods sold 616,850 Average accounts receivable for the year 40,650 Accounts receivable at year-end 28,200 Average inventory for the year 182,000 Inventory at year-end 158,000 Required: Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) Calculate the accounts receivable turnover for 2019. (Round your answer to 1 decimal place.) Calculate the number of days' sales in accounts receivable for 2019, using year-end accounts receivable. (Use 365 days a year. Round your answer to 1 decimal place.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following information was available for the year ended December 31, 2019: Net sales $ 894,250 Cost of goods sold 616,850 Average ...” 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
Select the options from the list that explain how the three systems (enterprise system, supply chain system, and customer relationship management system) affected these financial results.
Answers (1)
A classroom of children has 13 boys and 17 girls in which five students are chosen to do presentations. In how many ways can the five students be chosen so that more boys than girls are selected?
Answers (1)
This table shows the number of employees needed to fill lunch orders at several food trucks. food truck number of lunch orders number of employees frank's falafels 20 per hour 2 kimchi kim's 25 per hour 3 deli delight 30 per hour 3 lunch on the go
Answers (1)
Why does a campground at a national park not necessarily count as a public good?
Answers (2)
What is market equilibrium
Answers (1)
New Questions in Business
In the circular flow model of the market system, households' major role is to Multiple Choice buy both products and resources. sell both products and resources. buy products and sell resources. sell products and buy resources.
Answers (1)
Lucia Ltd. reported net income of $135,000 for the year ended December 31, 2016. January 1 balances in accounts receivable and accounts payable were $29,000 and $26,000, respectively.
Answers (1)
Ten years ago, Jacobson Recovery purchased a wrecker for $285,000 to move disabled 18-wheelers. He anticipated a salvage value of $50,000 10 years after the initial purchase. During this time his average annual revenue totaled $52,000.
Answers (1)
Using what you have learned in your focus group, you begin your analysis of the buyer decision process. In the first stage of the process, you need to show consumers that their existing state does not equal their desired state.
Answers (1)
When demand curves intersect, the curve with the larger slope in absolute value (the steeper demand curve) is more elastic?
Answers (1)