Directions Before beginning the discussion, compute for each year Costco's: gross margin percentage (carry to one decimal point). • return on assets percentage (carry to one decimal point). inventory turnover ratio, and average days to sell inventory. . . (Later provide your calculations when responding to a discussion question.) Costco Wholesale Corporation operated 787 stores as of September 1, 2019. The following data were taken from the company's annual report. All dollar amounts are in millions. Fiscal Year Ending Net sales Cost of goods sold Net income Merchandise inventory Fiscal Years Ending 12/31/2019 $ 152,903 132,886 3,659 11,395 12/31/2018 $ 141,576 123,152 3,134 11,040 Discussion Questions 1. Based on Costco's gross margin and return on sales percentages, did its performance improve in 2019? Explain

The following is selected information from Mars Corp. Compute net purchases, and cost of goods sold for the month of March. Inventory, Februray 28, 2018 $450,000 Inventory, March 31, 2018 330,500 Purchase discounts  12,450 Purchase returns and allowances 23,870 sales 276,900 sales discounts 34,660 Gross purchaases 120,400

Denger

A company reports the following: Cost of merchandise sold               $3,120,750Average merchandise inventory        182,500 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place.

The Cullumber Supply Company reported the following information for 2017. Prepare a common-size income statement for the year ended June 30, 2017. (Round answers to 1 decimal place, e.g. 52.7%.) Cullumber Supply CompanyIncome Statement for the Fiscal Year Ended June 30, 2017($ thousands)         % of Net Sales   Net sales   $2,111,000   enter percentages of net sales %   Cost of goods sold   1,464,000   enter percentages of net sales %   Selling and administrative expenses   312,200   enter percentages of net sales %   Nonrecurring expenses   27,600   enter percentages of net sales %   Earnings before interest, taxes, depreciation, and amortization (EBITDA)   $307,200   enter percentages of net sales %   Depreciation   117,000   enter percentages of net sales %   Earnings before interest and taxes (EBIT)   190,200   enter percentages of net sales %   Interest expense   118,600   enter percentages of net sales %   Earnings before taxes (EBT)…

Use the following information to complete the calculations below. Cost of goods sold $195,640 Inventory: Beginning of year 20,500 End of year 18,628 a. Compute inventory turnover. b. Compute average daily cost of goods sold using a 365 day year. c. Compute number of days' sales in inventory. Round your answer to one decimal place. days

Prepare an income statement for Hansen Realty for the year ended December 31, 2023. Beginning inventory was $1,244. Ending inventory was $1,596. Note: Input all amounts as positive values. Sales $ 34,500 Sales returns and allowances 1,088 Sales discount 1,148 Purchases 10,312 Purchase discounts 536 Depreciation expense 111 Salary expense 5,000 Insurance expense 2,400 Utilities expense 206 Plumbing expense 246 Rent expense 176

The following data was taken from recent annual reports of Wonka Bar Co.: Cost of goods sold $ 15,750 Inventory, end of year $ 6,000 Inventory, beginning of the yea $ 5,000 Determine the inventory turnover for Wonka Bar Co. Round to one decimal place.

Ayayai Company had the following account balances at year-end: Cost of Goods Sold $63,840; Inventory $14,610; Operating Expenses $30,650; Sales Revenue $121,130; Sales Discounts $1,130; and Sales Returns and Allowances $1,850. A physical count of inventory determines that merchandise inventory on hand is $13,080.

Presented below is information related to Tamarisk Corporation for the month of January 2020. Cost of goods sold   $207,710   Salaries and wages expense   $62,790 Delivery expense   6,520   Sales discounts   7,470 Insurance expense   11,170   Sales returns and allowances   11,870 Rent expense   20,580   Sales revenue   356,700 Prepare the necessary closing entries.