Chapter 12Exploration 12.2e - Using the Information - Number of Days of Sales in Inventory Ratio (13)Goal: Learn to calculate and interpret the number of days of sales in inventory ratio.Instructions: Use the values given to calculate the number of days of sales in inventory ratio. Indicate whether the change in this ratio isfavourable or unfavourable.Correct Spelling is vital! Moodle is brutal! Consult the Chart of Accounts for help here.If there are more than one debit or credit the account names must be in alphabetical order.Do not include the $ sign in your answers.Your answers must be correct to exactly 2 decimal places.Do not include the, indicating thousands in your answers.Date Column: Enter the date in the form MMM DD, e.g. January 3 would be entered as Jan 32025Average Merchandise Inventory30,000Cost of Goods Sold59,500Number of days of sales in inventory:Rounded to 2 decimal places.20252024202.46Hint: The textbook example demonstrates how to calculate the average inventory, but they have already calculated it here.Assuming all other things are constant, the change in this ratio is Favourable (F), Unfavourable (U)?

let's calculate the number of days of sales in inventory ratio for 2025 and determine if the change…

Answered: Chapter 12 Exploration 12.2e - Using…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter7: Inventory Cost Flow Assumptions (fifolifo)

Section: Chapter Questions

Problem 3R

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QUESTION 4 Which of the following is used to analyze the efficiency and effectiveness of inventory management? a. inventory turnover only b. number of days' sales in inventory only c. both inventory turnover and number of days' sales in inventory d. neither inventory turnover or number of days' sales in inventory
chapter 7 7. Calculate the shortage percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise. Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040 Alteration costs 1,620 Freight 1,690 Gross Sales 806,430 Customer returns 60,340 Markdowns 120,630 Markdown cancellations 3,048 Additional markup 360 Employee discounts 1,010 Closing physical inventory 212,803
5: Chapter 6 Homework × < CengageNOWv2 | Online teach Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 23 units @ $11 5 Sale 17 Purchase 30 Sale 14 units Check My Work 26 units @ $14 14 units Assuming a perpetual inventory system and the last-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. S b. Determine the inventory on September 30. $ + Search All work saved. h ASUS VIVOBOOK E
Question 14 What should you do to streamline the purchasing process once the customer approves an estimate? O Create invoice from purchase order O Create purchase order from the estimate Create a price rule from the estimate Create invoice from the estimate
chapter 7 9. Calculate the maintained markup percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). (HINT: Page 196) NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise. Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040 Alteration costs 1,620 Freight 1,690 Gross Sales 806,430 Customer returns 60,340 Markdowns 120,630 Markdown cancellations 3,048 Additional markup 360 Employee discounts 1,010 Closing physical inventory 212,803
Please provide the following: • quick ratio • inventory turnover • account receivable Important note: please follow the formula on the lesson attached (photo)
Question 15 Which feature helps streamline the purchasing process once a customer approves an estimate? Create invoice from estimate O Price Rules O Create purchase order from an estimate Create invoice from purchase order
EX 6-9 Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar vear: OBJ. 3 Jan. Inventory 4,000 units at $20 Apr. 19 Sale 2,500 units June 30 Purchase 6,000 units at S24 Sept. Sale 4,500 units Nov. 15 Purchase 1,000 units at $25
Need answers for all three quest in Question 3 When attempting the question, I would like to you pay attention to the following: how purchases returns, sales returns and shortage/excess inventory are treated under the perpetual inventory record the adjustment to COGS when there are returns
Please help! calculate the inventory turnover and days sales In inventory for Best Buy using the information in the picture
May I ask for a solution and explanation to the problem for a better understanding. Thank you! 20. What is the inventory turnover for Bittergourd? a. 13.33 x b. 12.33 x c. 11.33 x d. 10.33 x
23 please quickly thanks! calculations See the transactions in the picture presented. a. Record the journal entries of the transactions on Nov 6th. (Assuming the purchase is on credit) b. How much is the merchandise sold using perpetual LIFO method? (Show the calculations) C. How much is the gross profit in November? Nov 1 Inventory 140units at $25 Nov 6 Credit Sales 60 units at $30 (Selling price) Nov 14 Purchase 100 units at $22 Nov 19 Credit Sales 80 units at $30 (Selling price) Nov 25 Credit Sales 60 units at $30 (Selling price) Nov 30 Purchase 70 units at $20

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