Cage Corporation has current liabilities of $510,000, a quick ratio of .93, inventory turnover of 6.9, and a current ratio of 1.5. What is the cost of goods sold for the company? (Do not round intermediate calculations.)
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- Dungy Training Company has a current ratio of 0.70 to 1, based on current assets of $3.43 million and current liabilities of $4.90 million. How, if at all, will a $900,000 cash purchase of inventory affect the current ratio? How, if at all, will a $900,000 purchase of inventory on account affect the current ratio?Swing Ltd uses FIFO for its inventory, which is valued at $21,000. It is considering a change to moving weighted average, which would change the valuation of inventory to $22,500. Which of the following would be decreased by the change? a.Cost of goods sold b.Sales c.Liabilities d.WithdrawalsAlice Co. has a current ratio of 2.7. The acid test ratio is 2.2. The current liabilities of Alice Co. are $46,000. Could you calculate the dollar amount of merchandise inventory? (assume no prepaid expenses)
- Falcon Corporation originally has current assets of $400 and current liabilities of $275. It purchases $108 of inventory with short-term accounts payable. What is its new current ratio? (Round to two decimal places.) O 1.45 None of these is correct. O 1.69 O 1.33If PetCo had net sales of $600,000, goods available for sale of $450,000, and cost of goods sold of $375,000, what is its grossmargin? What amount of inventory will be shown on its balance sheet?The following data were taken from the financial statements of Tokyo Corporation: Annual Sales - P1,250,666, Cost of Goods Sold - P1,014,540, Inventory - P250,000, Accounts Receivable - P300,000 and Accounts Payable - P150,000. Compute for the Inventory Conversion Period. ______ days. Use whole number, no peso sign.
- Quick ratio is 1.8:1, current ratio is 2.7:1 and current liabilities are $60,000, while the prepaid expense is 0. Determine value of inventory.For Crane Company, the following information is available: Cost of goods sold $386750 Dividend revenue Income tax expense Operating expenses Sales revenue 17300 35800 133500 595000 In Crane's single-step income statement, gross profit O should not be reported. O should be reported at $208250. O should be reported at $225550. O should be reported at $53100.Beach Wear has current liabilities of RM350,000, a quick ratio of 1.65, inventory turnover of 4.7, and a current ratio of 2.9. What is the cost of goods sold? Select one: a. RM2,056,250 b. RM1,760,750 c. RM1,950,000 d. RM1,980,500
- What is the inventory turnover ratio for ABC Corp. if cost of goods sold equals $5,000, current ratio equals 3, quick ratio equals 1.5, and the firm has $1,800 in current assets? A. 2.78 times B. 4.17 times C. 5.56 times D. 8.33 timesFor this question, calculate all values to 2 decimal places of £M (e.g. £123.45M) unless otherwise specified, and all ratios to 2 decimal places of percentage (e.g. 9.87%). You are given the following income statements and balance sheets for Freddie M Corporation for fiscal years 2045 and 2046 (all figures are in £ million), Income Statement Balance Sheet Sales Cost of goods sold Gross margin Wage & salaries expense Depreciation expense Earnings before interest and tax Interest expenses Taxes Net income Dividends Change in shareholder's equity Assets: Cash & equivalents Receivables Inventories Current Assets Property, plant & equipment Accumulated depreciation Net property, plant & equip Total Assets 2045 400.00 -200.00 200.00 -50.00 -25.00 125.00 -25.00 -60.00 40.00 -16.00 24.00 2045 2046 480.00 -240.00 240.00 -60.00 -25.00 155.00 -20.00 -70.00 65.00 -26.00 39.00 2046 Liabilities: 30.00 36.00 Payables 60.00 Short-term debt 50.00 50.00 60.00 Long-term debt 130.00 156.00 Total…Triple J Company has a current ratio of 3.1. The acid test ratio is 2.4. The current liabilities of Arcy Incorporated are $73,000. Could you calculate the dollar amount of merchandise inventory?