A company wishes to improve efficiency and have 28 days in inventory. If COGS is forecasted as $22,764, what is the targeted inventory amount? Enter your answer as a monetary amount rounded to four decimal places, but without the currency symbol. For example, if your answer is $90.1234, enter 90.1234. If your result is negative, enter a negative figure, like this: -90.1234 Type your answer...
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- The following information relates to CEE Company: (Refer to image). Assume that the company uses the average cost approach. What is the cost ratio? Express your answer in percentage and round up to two decimal points. * Retail Cost 500,000.00 Inventory, 12/31/2021 725,000.00 Purchases 1,285,000.00 2,220,000.00 Purchase returns 20,000.00 35,000.00 Purchase discounts 30,000.00 Sales (after employee discounts) 2,450,000.00 Sales returns 125,000.00 Sales allowances 70,000.00 Mark-ups Mark-up cancellations 160,000.00 70,000.00 Mark-down 65,000.00 Mark-down cancellations 32,000.00 Freight in Employee discounts Normal loss from breakage 65,000.00 15,000.00 10,000.00Jordan Cameras, Incorporated manufactures two models of cameras. Model ZM has a zoom lens; Model DS has a fixed lens. Jordan uses an activity-based costing system. The following are the relevant cost data for the previous month: Direct Cost per Unit Direct materials Direct labor Category Unit level Batch level Product level Facility level Total Estimated Cost $ 25,960 49,920 90,000 180,000 $ 345,880 Model ZM $ 20.70 29.40 Cost Driver Model DS $7.00 9.00 Number of units Number of setups Number of TV commercials Number of machine hours Amount of Cost Driver ZM: 2,500 units; DS: 9,300 units ZM: 26 setups; DS: 26 setups ZM: 14; DS: 11 ZM: 300 hours; DS: 600 hours Jordan's facility has the capacity to operate 2,700 machine hours per month. Required a. Compute the cost per unit for each product. b. The current market price for products comparable to Model ZM is $118 and for DS is $68. If Jordan sold all of its products at the market prices, what was its profit or loss for the previous month?…Income is to be evaluated under four different situations as follows: a. Prices are rising: (1) Situation A: FIFO is used. (2) Situation B: LIFO is used. b. Prices are falling: (1) Situation C: FIFO is used. (2) Situation D: LIFO is used. The basic data common to all four situations are sales, 520 units for $20,800; beginning inventory, 290 units; purchases, 410 units; ending inventory, 180 units; and operating expenses, $3,500. The income tax rate is 40%. Required: 1. Complete the following tabulation for each situation. In Situations A and B (prices rising), assume the following: beginning inventory, 290 units at $10 = $2,900; purchases, 410 units at $12 = $4,920. In Situations C and D (prices falling), assume the opposite; that is, beginning inventory, 290 units at $12 = $3,480; purchases, 410 units at $10 = $4,100. Use periodic inventory procedures. 2. Complete the following sentence: 3. Complete the following sentence regarding the relative effects on the cash position for each…
- Income is to be evaluated under four different situations as follows: a. Prices are rising: (1) Situation A: FIFO is used. (2) Situation B: LIFO is used. b. Prices are falling: (1) Situation C: FIFO is used. (2) Situation D: LIFO is used. The basic data common to all four situations are sales, 530 units for $21,200; beginning inventory, 300 units; purchases, 380 units; ending inventory, 150 units; and operating expenses, $3,900. The income tax rate is 40%. Required: 1. Complete the following tabulation for each situation. In Situations A and B (prices rising), assume the following: beginning inventory, 300 units at $12 = $3,600; purchases, 380 units at $14 = $5,320. In Situations C and D (prices falling), assume the opposite; that is, beginning inventory, 300 units at $14 = $4,200; purchases, 380 units at $12 = $4,560. Use periodic inventory procedures. 2. Complete the following sentence: 3. Complete the following sentence regarding the relative effects on the cash position for each…Classify this news event as systematic or unsystematic and indicate if prices will increase or decrease. From Marketwatch news on May 17th, 2022: Walmart's reports last quarter earning that are much lower than expected. Select one: a. Systematic; Decrease b. Unsystematic; Increase c. Unsystematic; Decrease d. Systematic; IncreaseYou are the manager of a successful retail operation. Inflation has been running at 3% per year on the cost of inventory. Which inventory cost flow assumption would you use? FIFO, LIFO, or average? Justify your answer. Which provides the higher gross margin vs. the lower gross margin and why?
- Arrow Distributing Corp. likes to track inventory by using weeks of supply as well as by inventory turnover. Arrow Distributing Corp. Net Revenue Cost of sales Inventory Total assets a) What is its weeks of supply? weeks (round your response to two decimal places). b) What is Arrow's inventory turnover? times per year (round your response to two decimal places). $16,830 $14,240 $920 $9,270 c) Suppose a manufacturer has an inventory turnover of 13.5 times per year. Arrow's supply chain performance relative to the manufacturer's, as measured by inventory turnover, isIncome Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 53,000 units will be produced with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead Beginning Ending ? Next year, Bob's Bistro expects to purchase $126,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Inventory $5,000 $4,900 $73,000 27,000 230,000 Work-in-Process Inventory $13,700 $15,700 Next year, Bob's Bistro expects to produce 53,000 units and sell 52,300 units at a price of $13.00 each. Beginning inventory of finished goods is $47,500, and ending inventory of finished goods is expected to be $39,000. Total selling expense is projected at $22,000, and total administrative expense is projected at $117,500. Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For…The following ratios have been provided for a company. Which of the statements below is a valid interpretation based on these ratios? Gross profit margin Operating profit margin Current ratio 20X3 38.8% 22.2% 20X4 40.2% 29.7% 4:1 3.2:1 Inventory days 27 32 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The company's customers paid more quickly in 20X4 than in 20X3. b The company was more profitable in 20X4 than in 20X3. The company held inventory for longer in 20X3 than in 20X4. The company has poor liquidity.
- Assume a firm's inventory level of $11,000 represents 32 days' sales. Required: a. What is the annual cost of goods sold? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to whole number.) b. What is the inventory turnover ratio? (Round your answer to 2 decimal places.) Annual cost of goods sold Inventory turnover ratio times per year(This is what is in between the 1st and 2nd screenshot) Using these data, determine the following: Earnings per share. Round your answer to two decimal places. Price-to-earnings ratio. Round your answer to two decimal places. Book value per share. Round your answer to two decimal places. Market-to-book ratio. Round your answer to two decimal places. EV-EBITDA multiple. Assume the cost of sales includes $14 million in depreciation expenses. Assume there are no amortization expenses. Round your answer to two decimal places. How much of the retained earnings total was added during Year 1? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to two decimal places.$ million Show Eastland’s new balance sheet after the company sells 1 million new common shares in early Year 2 to net $28 a share. Part of the proceeds, $12 million, is used to reduce current liabilities, and the remainder is temporarily…1. Write the Ratio/ Equation to be used, IF REQUIRED 2. Substitute the given 3. Solution (Solve for the ask) 4. Label your answer and solution properly (Peso sign, write "days" "times or x", %) 4. Double rule your answer The Walker Department Store had net credit sales of P8,000,000 and cost of goods sold of P6,000,000 for the year. The average inventory for the year amounted to P2,000,000. The inventory turnover ratio for the year is