Homework Answers
rate positively ..
| Ans 1 | ||||||||||
| company | A | B | C | |||||||
| i | COGS | 1000 | 2000 | 2000 | ||||||
| ii | Average inventory | 100 | 100 | 200 | ||||||
| iii=i/ii | Inventory turnover ratio = | 10 | 20 | 10 | ||||||
| iv=365/iii | Days to sale | 36.5 | 18.25 | 36.5 | ||||||
| Therefore answer is option : Company B whose cost of goods sold equals $2000 and whose average inventory is $100 | ||||||||||
| Ans 2 | Correct answer is option " decreasing the amount of inventory on hand while unit sales are increasing. |
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Which company will have the lower number of days to sell? O Company A whose cost...
Which of the following would cause the greatest increase in a company's inventory turnover ratio? Multiple...
Which of the following would cause the greatest increase in a company's inventory turnover ratio? Multiple Choice Decreasing the amount of inventory on hand while unit sales are increasing. Keeping the same amount of inventory on hand while unit sales are decreasing. Keeping the same amount of inventory on hand while unit sales are increasing. Increasing the amount of inventory on hand while unit sales are increasing.
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Ferris Company began January with 4,000 units of its principal product. The cost of each unit...
Ferris Company began January with 4,000 units of its principal
product. The cost of each unit is $7. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
3,000
$
8
$
24,000
Jan. 18
4,000
9
36,000
Totals
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60,000
* Includes purchase price and cost of freight.
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Jan. 5
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Jan. 20
3,000
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Thank you! Ferris Company began January with 7,000 units of its principal product. The cost of...
Thank you!
Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Unit Cost* $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 7,000 13,000 Total Cost $42,000 56,000 98,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 1,000 4,000 8,000 12,000 units were on...
Top Light Company uses a perpetual inventory system. The company began inventory at a cost of $12 per unit. During 2019, Top Light had the following purchases and sales of lamps PURCHASE/ SOLD UNITS &COST/UNIT OR SELLING PRICE/ UNIT 2,000 units@$18/unit 2,500 units @$30/ unit 3,500 units@$23/unit 2,000 units@$33/unit DATE Purchased Feb 13 Sold Purchased Sold April 24 June 6 October 18 Required: 1. Calculate the cost of goods sold and ending inventory using FIFO Inventory Balance Cost/ unit Cost...
Ferris Company began January with 4,000 units of its principal
product. The cost of each unit is $7. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
3,000
$
8
$
24,000
Jan. 18
4,000
9
36,000
Totals
7,000
60,000
* Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
2,000
Jan. 12
1,000
Jan. 20
3,000
Total
6,000
5,000 units were on...
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Thank you!
Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Unit Cost* $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 7,000 13,000 Total Cost $42,000 56,000 98,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 1,000 4,000 8,000 12,000 units were on...
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