The cost of goods sold for Veltron International last year amounted to $547,800, and the average inventory at cost was $365,200. The published inventory turnover at cost is 6.6.   Calculate the inventory turnover at cost, and if it is less than the published rate, calculate the target average inventory at cost (in $). (If the actual turnover is greater than the published rate, enter "above" for target average inventory.)   Inventory turnover at cost   Target average inventory at cost $

Jam Company uses the retail inventory method to estimate its inventory for interim statement purposes.  Data relating to the computation of the inventory at December 31, 2011 are as follows:                                                             COST                RETAIL Inventory, January 1                           720,000             1,000,000 Purchases                                         4,080,000            6,300,000 Markup                                                                            700,000 Markdown                                                                        500,000 Sales                                                                              5,900,000 Estimated normal shoplifting losses                                 100,000   Under the AVERAGE COST RETAIL METHOD, what is the estimated cost of inventory on December 31, 2011?

Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost, calculate the average inventory (in $) and inventory turnover for the following. If the actual turnover is less than the published rate, calculate the target average inventory necessary to come up to industry standards. If the actual turnover is greater than the published rate, enter "above" for target average inventory. Round inventories to the nearest dollar and inventory turnovers to the nearest tenth Net Sales $580,000 Cost of Goods Sold Beginning Inventory $131,250 Ending Inventory $77,200 Average Inventory $ 104,225 ✔ 6.08 Inventory Turnover x Published Rate 4.8 Target Average Inventory $ 132,093.75 x

Company Z had the following information: inventory at cost of $5,100, selling value of inventory of $5,250, inventory cost of completion of $100, inventory cost of distribution of $150, normal profit margin of $2,000, and inventory replacement cost of $4,800. What is the floor amount to be used in the determination of the inventory's market value in the lower-of- cost-or-market method of inventory? O $3,000 O $5,000 O $4,800 O $5,250