Homework Answers
rate positively .. let me know if you need any clarification..
| Days to sales inventory = Inventory/COGS*365 | ||||
| 314000/1246550*365 | ||||
| 92 | ||||
| Therefore answer is option | 92 | days |
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Misty Mountain Outfitters is a merchandiser of specialized fly fishing gear. Its cost of goods sold...
Misty Mountain Outfitters is a merchandiser of specialized fly fishing gear. Its cost of goods sold...
Misty Mountain Outfitters is a merchandiser of specialized fly fishing gear. Its cost of goods sold for 2016 was $722,100, and sales were $1,176,200. The amount of merchandise on hand was $174,000, and total assets amounted to $1,221,450. Using this information, which of the following answers correctly states the average days in inventory ratio? Round to the nearest day. (Do not round your intermediate calculations.) 52 days 140 days 88 days 54 days Lott Co. had one unit in beginning...
Trophy Fish Company supplies flies and fishing gear products to sporting goods stores and outfitters throughout...
Trophy Fish Company supplies flies and fishing gear products to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 2017: Not Days Past Due Past Customer Balance Due 1-30 31-60 61-90 91-120 Over 19,500 AAA Outfitters Brown Trout Fly Shop 19,600 7,300 7,300 Nov. 7 Zigs Fish 3,900 3,900 Adventures Subtotals 1,311,900 750,700 297,000...
Instructions Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout...
Instructions Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y4: Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due Past Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 AAA Outfitters 19,000.00 19,000.00 7,800.00 5 Brown Trout...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y6: 1 Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due 2 Past 3 Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 4 AAA Outfitters 20,600.00 20,600.00 5...
Johnson Corporation began 2018 with inventory of 22,000 units of its only product. The units cost $7 each. The company uses a periodic inventory system and the LIFO cost method. The following transact...
Johnson Corporation began 2018
with inventory of 22,000 units of its only product. The units cost
$7 each. The company uses a periodic inventory system and the LIFO
cost method. The following transactions occurred during 2018:
Purchased 110,000 additional units at a cost of $12 per unit. Terms
of the purchases were 2/10, n/30, and 100% of the purchases were
paid for within the 10-day discount period. The company uses the
gross method to record purchase discounts. The merchandise was...
Johnson Corporation began 2018 with inventory of 30,000 units of its only product. The units cost...
Johnson Corporation began 2018 with inventory of 30,000 units of its only product. The units cost $8 each. The company uses a periodic inventory system and the LIFO cost method. The following transactions occurred during 2018: a. Purchased 150,000 additional units at a cost of $10 per unit. Terms of the purchases were 1/10, n/30, and 100% of the purchases were paid for within the 10-day discount period. The company uses the gross method to record purchase discounts. The merchandise...
Trophy Fish Company supplies flies and fishing gear products to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 2017: Not Days Past Due Past Customer Balance Due 1-30 31-60 61-90 91-120 Over 19,500 AAA Outfitters Brown Trout Fly Shop 19,600 7,300 7,300 Nov. 7 Zigs Fish 3,900 3,900 Adventures Subtotals 1,311,900 750,700 297,000...
Instructions Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y4: Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due Past Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 AAA Outfitters 19,000.00 19,000.00 7,800.00 5 Brown Trout...
Johnson Corporation began 2018
with inventory of 22,000 units of its only product. The units cost
$7 each. The company uses a periodic inventory system and the LIFO
cost method. The following transactions occurred during 2018:
Purchased 110,000 additional units at a cost of $12 per unit. Terms
of the purchases were 2/10, n/30, and 100% of the purchases were
paid for within the 10-day discount period. The company uses the
gross method to record purchase discounts. The merchandise was...
Johnson Corporation began 2018 with inventory of 30,000 units of its only product. The units cost $8 each. The company uses a periodic inventory system and the LIFO cost method. The following transactions occurred during 2018: a. Purchased 150,000 additional units at a cost of $10 per unit. Terms of the purchases were 1/10, n/30, and 100% of the purchases were paid for within the 10-day discount period. The company uses the gross method to record purchase discounts. The merchandise...
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