Selected financial information for Martin Company for Year 2 follows:
Required:How many times did Martin's merchandise inventory turnover during Year 2? Round your answer to one decimal place.
What will be an ideal response?
4.2 times
Inventory turnover = cost of goods sold ÷ average inventory
Average inventory = ($72,000 + $80,000) ÷ 2 = $76,000
Inventory turnover = $320,000 ÷ $76,000 = 4.2 times
You might also like to view...
Why are integrative agreements better than compromise agreements?
a. Compromise agreements develop a win-win agreement. b. Cognitive dissonance can generate feelings of frustration, regression, fixation, and aggression. c. Integrative agreements are more stable and mutually rewarding. d. Each party makes concessions on high-priority issues in exchange for concessions on low-priority issues.
In an era when many jobs are multifaceted, requiring high levels of emotional intelligence, creativity, adaptability and proactivity, which of the following is suggested by Waples and Friedrich (2011) as a more appropriate alternative term than performance ‘management’:
a. performance ‘facilitation’ b. performance ‘art’ c. performance ‘extraction’ d. performance ‘manipulation’
The maker of Luvs diapers is developing a media plan that involves trying to expose its target audience to its new advertisement about ten times. This is advertising
A. reach. B. repetition. C. frequency. D. targeting. E. exposure.
Job security is an example of which type of need?
a. physiological b. esteem c. safety d. self-actualization e. social