Crawford Construction has a quick ratio of 2.00x, $32,175 in cash, $17,875 in accounts receivable, some inventory, total current assets of $71,500, and total current liabilities of $25,025. The company reported annual sales of $300,000 in the most recent annual report. Over the past year, how often did Crawford Construction sell and replace its inventory? 8.01x O 15.39x 13.99x O2.86x
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- Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Crockett Electronics has a quick ratio of 2.00x, $30,150 in cash, $16,750 in accounts receivable, some inventory, total current assets of $67,000, and total current liabilities of $23,450. The company reported annual sales of $300,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory? 08.01x O 16.42x O 2.86x O 14.93x
- Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual report. Over the past year, how often did Polk Software Inc. sell and replace its inventory? 4.57x O 4.97x O 5.23x 3.69xCrockett Electronics has a quick ratio of 2.00x, $30,150 in cash, $16,750 in accounts receivable, some inventory, total current assets of $67,000, and total current liabilities of $23,450. The company reported annual sales of $300,000 in the most recent annual report. A) Over the past year, how often did Crockett Electronics sell and replace its inventory? 2.86x 16.42x 8.01x 14.93x B) The inventory turnover ratio across companies in the electronics industry is 12.6905x. Based on this information, which of the following statements is true for Crockett Electronics? Crockett Electronics is holding less inventory per dollar of sales compared with the industry average. Crockett Electronics is holding more inventory per dollar of sales compared with the industry average. You are analyzing two companies that manufacture electronic toys—Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, whereas Our Play is a…For its most reoent year a company had Sales (all on credit) of $a50,000 and Cost of Goods Sold of $510,000. Al the beginning of the year, its Accounts Receivable were $100,000 and its Inventory was $120,000. At the end of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. Inventory turnover ratio (Answer format: 12.34) * Your answer Accounts receivable turnover ratio (Answer format: 12.34) * Your answer On average how many days of sales were in Accounts Receivable during the year? (Answer format: 12.3) * Your answer On average how many days of sales were in Inventory during the year? (Answer format: 12.3) *
- Adams Furniture has a quick ratio of 2.00x, $37,575 in cash, $20,875 in accounts receivable, some inventory, total current assets of $83,500, and total current liabilities of $29,225. The company reported annual sales of $100,000 in the most recent annual report. Additionally, the company’s cost of goods sold is 75% of sales. Over the past year, how often did Adams Furniture sell and replace its inventory? 8.01x 3.29x 2.86x 2.99xThe following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $18,500,000 $20,000,000 Beginning inventories 940,000 860,000 Cost of goods sold 9,270,000 10,800,000 Ending inventories 1,120,000 940,000 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 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 It is NOT 44 or 31 dayas\ysThe following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $18,500,000 $20,000,000 Beginning inventories 940,000 860,000 Cost of goods sold 9,270,000 10,800,000 Ending inventories 1,120,000 940,000 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 final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory days days b. The inventory position of the business has . The inventory turnover has , while the number of days' sales in inventory has . The sales volume has faster than the inventory, resulting in a inventory position.
- For its most recent year a company had Sales (all on credit) of $750,000 and Cost of Goods Sold of $390,000. At the beginning of the year, its Accounts Receivable were $90,000 and its Inventory was $180,000. At the end of the year, its Accounts Receivable were $120,000 and its Inventory was $200,000. Inventory turnover ratio (Answer format: 12.34) Your answer Accounts receivable turnover ratio (Answer format: 12.34) * Your answer On average how many days of sales were in Accounts Receivable during the year? (Answer format: 12.3) * Your answer On average how many days of sales were in Inventory during the year? (Answer format: 12.3) * Your answerThe following data were extracted from the income statement of Shriver Inc.: Current Year Prior Year Sales $17,900,000 $18,100,000 Beginning inventories 760,000 700,000 Cost of merchandise sold 8,964,000 9,782,000 Ending inventories 900,000 760,000 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 final answers to one decimal place. Assume 365 days a year. Current Year Prior Year Inventory turnover Number of days' sales in inventory days daysThe following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $18,500,000 $20,000,000 Beginning inventories 940,000 860,000 Cost of goods sold 9,270,000 10,800,000 Ending inventories 1,120,000 940,000 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 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 b. The inventory position of the business has . The inventory turnover has , while the number of days' sales in inventory has . The sales volume has faster than the inventory, resulting in a inventory position.