With net sales of $40,000, beginning inventory at retail of $14,000, ending inventory at retail of $20,000, and cost of goods sold of $19,500, the inventory turnover at retail is (to the nearest hundredth): Multiple Choice O O O O 5.15 3.25 2.35 5.23 None of the answer choices are correct.
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- Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar. Number Unit of Units Cost Beginning Inventory 125 $43 Purchased Mar. 2 155 45 Sold Mar. 31 for $80 per unit 90 (a) Sales Revenue $ (b) Cost of Goods Sold (c) Gross Margin $Complete the following: (Round your answers to the nearest hundredth.) Average Inventory at Cost Average Inventory at Retail Net Sales Cost of Goods Sold Inventory Turnover at Cost Inventory Turnover at Retail $14,000 $21,540 $70,000 $49,800Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar. Numberof Units UnitCost Beginning Inventory 125 $43 Purchased Mar. 2 155 45 Sold Mar. 31 for $75 per unit 84 (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin $fill in the blank 3
- Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar. Numberof Units UnitCost Beginning Inventory 105 $49 Purchased Mar. 2 160 51 Sold Mar. 31 for $70 per unit 83 (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross MarginThe cost of goods sold for Home Depot last year amounted to $3,536,800 and the average inventory at cost was $1,576,182. The published inventory turnover at cost is 5.4. Calculate the inventory turnover at cost, and if it is less than the published rate, calculate the target average inventory cost. (Round your answer to the nearest dollar.) a. $374,265 b. $491,222 c. $654,963Given the following data, calculate the cost of goods sold for the 04/15 sale using the weighted-average method for a perpetual inventory system, rounding to the nearest dollar. (Do not round in the process of your calculations, only round your final answer.) 1/1 3/5 Beginning inventory Purchases 4/15 Sale 5/30 Purchases 10/25 Purchases 11/15 Sale 12/31 Ending inventory O $280 O $600 $200 $230 50 units at $10 per unit 30 units at $14 per unit 20 units at $30 per unit 25 units at $15 per unit 20 units at $16 per unit 60 units at $32 per unit 45 units
- A retailer’s total sales are $1,000,000 and the gross margin percentage is 60%. Thebeginning and ending inventory balances are $240,000 and $260,000, respectively.What is the inventory turnover?a. 1.60b. 2.40c. 3.40d. 3.60Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000; Net Purchases P45,000; and Cost of Goods Sold P50,000. Determine the Ending Inventory.a. P10,000b. P15,000c. 5,000d. 25,000Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: Beginning inventory Net purchases Cost $ 46,000 154,000 Retail $ 63,000 215,000 Net markups 22,000 Net markdowns 35,000 Net sales 220,000 The conventional cost-to-retail percentage is: Note: Round your answer to 1 decimal place. Multiple Choice О 75.5%. О 66.7%. 71.9%.
- Project the average inventory balance in Year X and use it to compute the implied ending inventory balance. Round to the nearest dollar except for Inventory Turnover (IT). For IT round to 2 places beyond the decimal point. Walton’s (data in millions) Year X-1 Year X Year X+1 Revenue $ 58,790 $ 63.541 ? Cost of Goods Sold 38,518 42,445 ? Ending Inventory 7,250 7,350 ? Inventory Turnover ? Average Inventory ?Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Numberof Units UnitCost Beginning Inventory 115 $44 Purchased Mar. 2 150 46 Sold Mar. 31 for $75 per unit 83 (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin $fill in the blank 3Given the following: Numberpurchased Costper unit Total January 1 inventory 39 $ 5 $ 195 April 1 59 8 472 June 1 49 9 441 November 1 54 10 540 201 $ 1,648 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 60 units). (Do not round intermediate calculations. Round your final answer to the nearest cent.) b. Calculate the cost of goods sold using the weighted-average method. (Use your rounded answer from Part a. Round your final answer to the nearest cent.)