ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in inventory?

ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in inventory?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Do question 6

A: Balance sheet is a type of financial statements that show the financial balances of any company at…

Q: C, F, and G. Thank you!

A: Working capital: The working capital formula tells us the short-term liquid assets remaining after…

Q: PR 12-4

A: Date Particulars Debit Amount Credit Amount 30-Jun Asset revaluation $2,900 Accounts…

Q: How do i do EX 12-3 & EX 12-4

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: Yuduryhej rjj

A: feel free to ask me any question within my capacity and I'm willing to help.

Q: Prev

A: The Loan provided to friends is clearly a “Non-Business” loan and so it is to be treated as…

Q: JE for A?

A: Here asked for the journal entry related with the construction of library and its total proceedings…

Q: EX.09.14

A: Meaning of Capital Expenditure: Capital expenditures (CapEx) are funds used by a company to acquire,…

Q: THE SMITH COMPANY Using the business transactions below, complete T-accounts for the Smith Company.…

A: T Accounts 1. Cash Account Particular Debit Particular Credit To capital A/c…

Q: please provide statement of financial position

A: Explanation - There are three statements of the organization which show different accounting…

Q: Concord Corporation's charter authorized issuance of 96,000 shares of $10 par value common stock and…

A: The company issues either common shares or preferred shares. When the company issues these shares…

Q: Q7-1. What is interest? Explain.

A: Interest is a financial term regularly used when money is lent or received as a loan. Interest…

Q: Question 25

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: the customer per small p the customer per large p= s Stork Enterprises have f gnize this tax…

A: A. Total tax charged to the customer per small package = 6% x $45 = $2.70Overall charge per small…

Q: explain the the benifts of IFRS9

A: The international financial reporting standard 9 is generally specifying how a particular…

Q: Number 33

A: 1)

Q: AS36

A: The core principle in IAS 36 is that an asset must not be carried in the financial statements at…

Q: 1 . S u p p o s e y o u a r e c o m p a r i n g t w o f i r m s w i t h i n a n i n…

A: Since you have posted multiple questions, as per the guidelines only the first question will be…

Q: pls hlp

A: Given, Market Price = $21

Q: Question 8

A: When net credit sales is divided with average accounts receivable it results in receivable turnover…

Q: How do I do PR 20-3a

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: 2/120? а. 36 b. 8 С. 24

A: Factors for 152: 1, 2, 4, 8, 19, 38, 76, and 152 Factors for 120: 1, 2, 3, 4, 5, 6, 8, 10, 12, 15,…

Q: What is the binary representation for 13 in decimal? a. 1110 b. 1111 c. 1100 d. 1101

A: Binary representation is a base 2 number system that uses two numbers 0 and 1 to represent a number.…

Q: How to calculate PMT, P/Y and C/Y

A: As per the given information: The time value of money concept states that earlier receipts are more…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: Explanation 1031 like-kind exchange

Q: What would the entry be for the letter H.?

Q: Bill of exchange are of types 1 type 3 types 2 types 4 types

A: Bill of exchange means an instrument where the drawer draw the bill and after accepted by acceptor ,…

Q: 1(1.25)/1.1+[1(1.25)3/(0.10-0.06)]/1.1 Simply the equation.

A: 1(1.25)/1.1+[1(1.25)3/(0.10-0.06)]/1.1

Q: Define registration statement (S-1)

A: For public organizations situated in the US, SEC Form S-1 is the underlying enrollment structure for…

Q: nkkkk

A: We can decide upon the better choice of loan by computing the future value of both the loans. Lower…

Q: answer is incorrect, pls recheck

A: Statement of Comprehensive Income: Comprehensive income is a measure of the changes in owners'…

Q: Jane Evans receives payments of $900 at the beginning of each month from a earned by the fund is…

A: Pension fund provides the pension for retirement based on the fund available interest rate and time…

Q: Which of the following value is concerned with the way we approach the end states?

A: Option a

Q: 1 . G i v e t h r e e p o s s i b l e c a u s e s o f a n a d v e r s e d i r e c t…

A: Typically a month or a quarter, a company's cash inflows and outflows are forecasted using the cash…

Q: What the agi

A: AGI means Adjusted Gross Income. It is the total income on which income tax payable would be…

Q: Activity F stomer Service

A: 1) S. Inc Activity rate = Total activity cost ÷ Activity Base Customer Service = $29,190 ÷ 210 =…

Question

pvn.1

ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the
beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in
inventory?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduce to days sales in inventory

VIEW

Step 2: Working for average inventory

VIEW

Step 3: Working for inventory turnover ratio

VIEW

Step 4: Working for days sales in inventory

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 5 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

dgdfdgdhfgff
Answer to Part C = 42250
Format m dalna chaiye tha
Define regulation D
How do i do PR 12-3A
Complete requirement 1
State the recognition and measurement of IFRS 10 and IFRS 3
Apple Juice Corp plans to take up a project that will cost $150,000 of investment in Building and $80,000 in new machinery. Apple Juice Corp has already spent $8000 on research and analysis about the products that will be developed in this unit. By taking up this project, Apple Juice Corp. estimates additional cash flows of $85000 per annum for the next five years. COGS are expected to be 40% of the revenues, SG&A will be 4% of the revenues. This project will require an additional inventory of $60,000 and an increase in payables by $25000 Tax Rate is 20% The target Debt: Equity is 1:4 Cost of new debt: 6% Cost of Equity: Need to calculate using the beta of 0.9, Rf of 4%, and market risk premium of 6% The equipment that would be used has a 3-year tax life. Under the new tax law, the equipment used in the project is eligible for 100% bonus depreciation, so it will be fully depreciated at t = 0. The Salvage value of Building and Machinery after 5 years is $100,000. You, as a financial…
WHat ia 2 plus 2
two questions
Define APR
Problem 9-12 (IAA)