Question
The following information is available for Tamarisk, Inc. for three recent fiscal years. 2022 2021 2020...
The following information is available for Tamarisk, Inc. for
three recent fiscal years.
|
2022 |
2021 |
2020 |
||||
|---|---|---|---|---|---|---|
|
Inventory |
$568,000 | $578,000 | $345,000 | |||
|
Net sales |
1,910,000 | 1,775,000 | 1,370,000 | |||
|
Cost of goods sold |
1,661,700 | 1,384,500 | 954,000 |
(a)
Calculate the inventory turnover, days in inventory, and gross
profit rate for 2022 and 2021. (Round inventory
turnover to 1 decimal place, e.g. 5.2, days in inventory to 0
decimal places, e.g. 125 and gross profit rate to 1 decimal place,
e.g. 5.2%.)
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
|
Inventory Turnover |
||||||
|
Days in Inventory |
||||||
|
Gross Profit Rate |
% | |||||
Homework Answers
Answer #1
Hi
Let me know in case you face any issue:
Not the answer you're looking for?
Similar Questions
The following information is available for Splish Brothers Inc. for three recent fiscal years. 2022 2021...
The following information is available for Splish Brothers Inc.
for three recent fiscal years.
2022
2021
2020
Inventory
$580,000
$590,000
$320,000
Net sales
1,950,000
1,750,000
1,350,000
Cost of goods sold
1,462,500
1,228,500
938,000
(a)
Calculate the inventory turnover, days in inventory, and gross
profit rate for 2022 and 2021. (Round inventory
turnover to 1 decimal place, e.g. 5.2, days in inventory to 0
decimal places, e.g. 125 and gross profit rate to 1 decimal place,
e.g. 5.2%.)
2022
2021
Inventory...
The following information is available for Bramble Corp. for three recent fiscal years. 2022 2021 2020...
The following information is available for Bramble Corp. for
three recent fiscal years.
2022
2021
2020
Inventory
$530,000
$562,000
$330,000
Net sales
1,885,000
1,784,000
1,315,000
Cost of goods sold
1,583,400
1,338,000
955,000
(a)
Calculate the inventory turnover, days in inventory, and gross
profit rate for 2022 and 2021. (Round inventory
turnover to 1 decimal place, e.g. 5.2, days in inventory to 0
decimal places, e.g. 125 and gross profit rate to 1 decimal place,
e.g. 5.2%.)
2022
2021
Inventory Turnover...
Exercise 6-11 a-c Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022....
Exercise 6-11 a-c
Suppose this information is available for PepsiCo,
Inc. for 2020, 2021, and 2022.
(in millions)
2020
2021
2022
Beginning inventory
$2,100
$2,600
$2,900
Ending inventory
2,600
2,900
3,000
Cost of goods sold
22,795
26,400
26,255
Sales revenue
41,000
44,000
43,980
Calculate the inventory turnover for 2020, 2021, and 2022.
(Round inventory turnover to 1 decimal place, e.g.
5.1.)
2020
2021
2022
Inventory turnover
enter an inventory turnover
times
enter an inventory turnover
times
enter an inventory turnover...
Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020...
Suppose this information is available for PepsiCo,
Inc. for 2020, 2021, and 2022.
(in millions)
2020
2021
2022
Beginning inventory
$2,000
$2,400
$2,700
Ending inventory
2,400
2,700
2,800
Cost of goods sold
20,680
23,715
23,650
Sales revenue
38,800
42,500
42,460
Calculate the inventory turnover for 2020, 2021, and 2022.
(Round inventory turnover to 1 decimal place, e.g.
5.1.)
2020
2021
2022
Inventory turnover
enter an inventory turnover
times
enter an inventory turnover
times
enter an inventory turnover
times
eTextbook and...
Splish Brothers Merchants reported the following on its income statement for the fiscal year ended December...
Splish Brothers Merchants reported the following on its income
statement for the fiscal year ended December 31, 2021 and 2020.
2021
2020
Sales
$496,060
$475,390
Cost of goods sold
Beginning inventory
146,480
154,124
Net purchases
345,990
322,960
Ending inventory
(138,774)
(146,480)
Cost of goods sold
353,696
330,604
Gross profit
142,364
144,786
Operating expenses
87,568
89,168
Profit
$54,796
$55,618
Calculate the inventory turnover ratio for Splish Brothers for
2021 and 2020. (Round answers to 2 decimal places, e.g.
52.75.)
2021
2020...
Suppose this information is available for PepsiCo, Inc. for 2015, 2016, and 2017. (in millions) 2015...
Suppose this information is available for PepsiCo,
Inc. for 2015, 2016, and 2017.
(in millions)
2015
2016
2017
Beginning inventory
$2,100
$2,200
$2,800
Ending inventory
2,200
2,800
2,600
Cost of goods sold
17,951
20,435
20,445
Sales revenue
38,895
42,974
43,152
Calculate the inventory turnover for PepsiCo, Inc. for 2015,
2016, and 2017. (Round inventory turnover to 1 decimal
place, e.g. 5.1.)
2015
2016
2017
Inventory turnover
times
times
times
Calculate the days in inventory for PepsiCo, Inc. for 2015,
2016,...
Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021....
Suppose the following information is available for Callaway Golf
Company for the years 2022 and 2021. (Dollars are in thousands,
except share information.) 2022 2021 Net sales $ 1,110,000 $
1,116,000 Net income (loss) 83,310 62,713 Total assets 855,338
838,078 Share information Shares outstanding at year-end 68,500,000
70,350,000 Preferred dividends 0 0 There were 77,210,000 shares
outstanding at the end of 2020. (a) What was the company’s earnings
per share for each year? (Round answers to 2 decimal places, e.g....
From the following information for Russo Merchandising Co. 2021 2020 2019 Cost of goods sold $...
From the following information for Russo Merchandising
Co.
2021
2020
2019
Cost of goods sold
$
643,825
$
426,650
$
391,300
Merchandise inventory (December 31)
96,400
86,750
91,500
Calculate inventory turnover for 2021 and 2020 and days’ sales in
inventory at December 31, 2021, and 2020. (Round your final
answers to 1 decimal place.)
Metlock Inc., a fertilizer company based in Alberta, had the following information on its financial statements...
Metlock Inc., a fertilizer company based in Alberta, had the
following information on its financial statements for the fiscal
years ended December 31. All figures are in millions of
dollars.
2022
2021
2020
2019
Net sales
$16,210
$15,759
$16,882
$15,380
Profit
715
1,303
1,498
1,335
Total assets
17,252
15,955
14,378
13,280
a) Calculate Metlock's (1) asset turnover ratio, and (2) return
on assets ratio for 2020 through 2022. (Round answers
to 2 decimal places, e.g. 52.75.)
2022
2021
2020
Asset...
Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 2020 Sales...
Anthony Thomas Candies (ATC) reported the following financial
data for 2021 and 2020:
2021
2020
Sales
$
317,000
$
290,000
Sales returns and allowances
8,900
4,300
Net sales
$
308,100
$
285,700
Cost of goods sold:
Inventory, January 1
63,000
26,000
Net purchases
134,000
144,000
Goods available for sale
197,000
170,000
Inventory, December 31
63,000
63,000
Cost of goods sold
134,000
107,000
Gross profit
$
174,100
$
178,700
The average days inventory for ATC (rounded) for 2021 is:
(Round your...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 16 minutes ago
asked 17 minutes ago
asked 32 minutes ago
asked 48 minutes ago
asked 48 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago