Business, 16.10.2019 23:00 wolfygamer14

Inventory turnover and number of days’ sales in inventory financial statement data for years ending december 31 for tango company follow: 20y7 20y6 cost of goods sold $3,654,015 $3,739,060 inventories: beginning of year 737,300 700,800 end of year 817,600 737,300 required a. determine the inventory turnover for 20y7 and 20y6. round to one decimal place. 20y7 20y6 inventory turnover b. determine the number of days’ sales in inventory for 20y7 and 20y6. use 365 days and round to one decimal place. 20y7 20y6 number of days’ sales in inventory days days c. are the changes in inventory turnover and the number of days’ sales in inventory from 20y6 to 20y7 favorable or unfavorable?

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Answer from: skyvargasov9cad

Description 2017 2016

a. inventory turn over 4.70 times 5.20 times

b. Number of days’ sales 77.66 days 70.19 days

in inventory days days

c. Trend is Unfavorable

Explanation:

a. Inventory Turn over : It is type of efficiency ration which shows how many times the company sold its inventory during the year.

Inventory Turn over = Cost of goods sold inventory / Average inventory

Description 2017 2016

Merchandise sold- Cost-i 3,654,015 3,739,060

Opening Inventory-ii 737,300 700,800

Closing inventory-iii 817,600 737,300

Average inventory-iv-(ii+iii)/2 777,450 719,050

Inventory turn over-v-(i/iv) 4.70 times 5.20 times

b. Number of days’ sales in inventory : This ratio shows in how many days the company sold out its inventories or stocks during the year.

No. of days in year- vi- 365 365

Average daily cost of Merchandise sold-vii-(i/vi) 10,011 10,244

No. of days sales in inventory-viii-(iv/vii) 77.66 days 70.19 days

c. The trend for the year 2017 is unfavorable as the inventory ratio decreased from 5.20 times to 4.70 times and its no. of days sales in inventory days increased from 70.19 days to 77.66 days. This means that the company is facing difficulty in selling its inventory in year 2017.

Answer from: Quest

answer; i believe that the correct answer is ( owners investment)

Answer from: Quest

the answer is d. in our global economy, most job growth will be in services, but manufacturing jobs will exist, too.

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Inventory turnover and number of days’ sales in inventory financial statement data for years ending...