Compute the inventory turnover ratio and average selling period from the following data of a trading company:   Sales: $75,000 Gross profit: $35,000 Opening inventory: $9,000 Closing inventory: $7,000

Suppose that the following information is available for Nike Inc. for the current year. Beginning inventory Ending inventory Cost of goods sold Net sales Inventory turnover Days in inventory $10,000 Calculate the inventory turnover, days in inventory, and gross profit rate for Nike Inc. for the current year. (Round gross profit rate to 2 decimal places, e.g. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Gross profit rate 12,500 80,100 140,000 times days % .

Find the inventory turnover at retail of Walker Manufacturing. The starting inventory at retail was $634,300 and the ending inventory at retail was $423,600. Sales for the year totaled $2,388,870. Round your answer to the nearest tenth

Based on the following information compute (a) inventory turnover, (b) average daily cost of merchandise sold, and (c) days' sales in inventory for the current year. Use a 365-day year.   Item Prior Year Current Year Cost of merchandise sold $172,900 $215,000 Inventory    18,000    12,000   If required, round your answers to two decimal places. (a)  Inventory turnover   times (b)  Average daily cost of merchandise sold $   (c)  Days' sales in inventory   days (d)  If an inventory turnover of 12 is average for the industry, how is this company doing?

Use the following information for Shafer Company to compute inventory turnover for year 2.      Year 2     Year 1   Net sales $ 654,500   $ 584,300   Cost of goods sold   389,900     360,980   Ending inventory   79,100     80,780

Compute the inventory turnover ratio based on the following data: Sales revenue                 $275,000 Cost of goods sold            168,000 Beginning inventory            35,000 Ending inventory                 45,000

Following is an incomplete current-year income statement. Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: Return on total assets is 16% (average total assets is $62,500). Inventory turnover is 5 (average inventory is $7,800). Accounts receivable turnover is 8 (average accounts receivable is $7,700). Income Statement Net Sales   Cost of goods sold   Selling, general, and administrative expenses 8800 Income tax expenses 3800 Net Income

Presented below is information related to Blue Company.                                                   cost                  Retail Begininng Inventory                $59,780              $98,000 Purchases (net)                      $132,070              196,100 Net markups                                                        11,067 Net markdowns                                                   23,589 Sales Revenue                                                   176,870 Compute the ending inventory at retail.

Calculate inventory turnover at cost (to nearest hundredth, format as 1.23 that's it, it's a ratio): Ending inventory           $25,000 Cost of goods sold        $43,000 Beginning inventory       $15,000 Net sales                      $55,800

Inventory Analysis The following data were extracted from the income statement of Keever Inc.:   Current Year Previous Year Sales $1,168,000   $1,222,000   Beginning inventories 84,800   75,984   Cost of goods sold 584,000   678,900   Ending inventories 76,800   84,800   a.  Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year.   Current Year Previous Year 1.  Inventory turnover fill in the blank 1   fill in the blank 2   2.  Number of days' sales in inventory fill in the blank 3 days fill in the blank 4 days