Delphino’s has sales for the year of $127,300 and cost of goods sold of $86,700. The firm carries an average inventory of $14,300 and has an average accounts payable balance of $13,600. What is the inventory period? 81.36 days 60.20 days 58.68 days 89.02 days The Lumber Yard has projected sales for April through July of $152,400, $161,800, $189,700, and $196,400, respectively. The firm collects 52 percent of its sales in the month of sale, 46 percent in the month following the month of sale, and the remainder in the second month following the month of sale. What is the amount of the July collections? $181,508 $122,852 $189,819 $192,626

Consider the following details about a firm from the past year. Assume that this sample time period provides a good estimate for the firm's cycles. What is its Inventory Period?   March 1 - Acquire Inventory   March 20 - Pay $25,000 for Inventory   April 22 - Sell Inventory on Credit   May 23 - Collect $40,000 for Sale on Credit

Neat Logos buys​ logo-imprinted merchandise and then sells it to university bookstores. Sales are expected to be $2,009,000 in​ September, $2,250,000 in​ October, $2,378,000 in​ November, and $2,560,000 in December. Neat Logos sets its prices to earn an average 30​% gross profit on sales revenue. The company does not want inventory to fall below $440,000 plus 10​% of the next​ month's cost of goods sold.   Prepare a cost of goods​ sold, inventory, and purchases budget for the months of October and November.

On January 1, The Parts Store had a $370.000 Inventory at cost. During the first quarter of the year, It purchased $1,510,000 of merchandise, returned $19,100, and pald frelght charges on purchased merchandise totalling $33,600. During the past several years, the store's gross profit on sales has averaged 30%. Under the assumption the store had $1,920,000 of sales during the first quarter of the year, use the gross profit method to estimate its Inventory at the end of the first quarter. Ending inventory

Brooklyn Studio's sales are all made on account. The firm's collection experience has been that 29% of a month's sales are collected in the month the sale is made, 52% are collected in the month following the sale, and 17% are collected in the second month following the sale. The sales forecast for the months of September through December is as follows: September October November December $ 236,000 285,000 307,000 369,000 Required: Calculate the cash collections that would be included in the cash budgets for November and December. November December Cash Collections 4

1. Bulk Wholesalers took in $378,800 in sales during July. They started the month with inventory worth $173,800 and spent $292,900 on new purchases during the month. Gross margin on sales was 76%. Using the gross profit method, estimate the cost value of the inventory at the end of July. A. $90,912 B. $292,900     C. $375,788 D. $466,700   2.Find the entry you would make on an income statement for TOTAL OPERATING EXPENSES for the year ended December 31, 2007: Gross Sales, $161,000; Sales Returns and Allowances, $9,600; Sales Discounts, $15,600; Merchandise Inventory, January 1, 2011, $52,500; Merchandise Inventory, December 31, 2011, $62,500; Net Purchases, $84,300; Freight In, $3,000; Salaries, $94,300; Rent, $29,800; Utilities, $2,245; Insurance, $3,250; and Income Tax, $19,100. A. $58,500 B. $77,300     C. $129,595 D. $135,800

Weisbro and Sons purchases its inventory one quarter prior to the quarter of sale. The purchase price is 60 percent of the sales price. The accounts payable period is 60 days. The accounts payable balance at the beginning of Quarter 1 is $27,200. What is the amount of the expected disbursements for Quarter 2 given the following expected quarterly sales? Quarter 1: $ 74,000 Quarter 2: $ 115,000 Quarter 3: $ 107,000 Quarter 4: $ 116,000

Dabble, Inc., has sales of $975,000 and cost of goods sold of $476,000. The firm had a beginning inventory of $33,500 and an ending inventory of $43,500. What is the length of the days' sales in inventory? (Use 365 days a year. Use ending inventory rather than average inventory. Round your answer to 2 decimal places.) Days' sales in inventory days

Assume a manufacturing company,s estimated sales for january,febuar and march are 1,00,000 , 1,20,000 , 1,10,000 respectively.the cost of goods sold is always 40 % of its sales.the company always maintains ending merchandise inventory equal to 10%of next motn cost of goods sold.it pays for 25% of its merchandise purchase in the month of the purchase and remaining 75%in the subsequent month .What is the account payable balance at the end of febuary? please proper explantion thnx

JC Penney has sales of $897,400, costs of goods sold of $628,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? 84.76 days 121.07 days 74.19 days 151.21 days 138.46 days