Question: Calculate and interpret liquidity ratios Calculate the inventory turnover, days in inventory, Accounts receivable turnover and the Average Collection period for the years ending June 30, 2020, and 2019 for the Green Construction Supplies Company. Assuming that they have a 60-day credit policy, evaluate their accounts receivable management and recommend ways to improve it. Evaluate their inventory management and suggest ways to improve it. Selected information ($) 2020 2019 2018 Net Sales (80% on credit) 430,000 720,000 640,000 Cost of Goods Sold 250000 350000 320000 Accounts Receivable 220,000 110,000 76,000 Allowance for doubtful accounts 35000 18000 14000 Bad debt expense 30000 12000 9000 Inventory 150000 100000 80000

Q: Required information LeMay Department Store uses the retail inventory method to estimate ending…

A: The cost to retail percentage is a comparison of the cost of ending inventory and the retail value…

Q: The following data were extracted from the income statement of Keever Inc.:   Current Year Previous…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: Use the following information relating to Clover Company to calculate (a) the inventory turnover…

A: The ratio is calculated to determine the relationship between 2 numbers. In accounting, Ratios are…

Q: Inventory Analysis The following data were extracted from the income statement of Shriver Inc.:…

A: Inventory turnover is the number of times inventory is sold and replaced back in a time period.…

Q: The following data were extracted from the income statement of Keever Inc.:   Current Year Previous…

A: Inventory turnover ratio measures the number of times a company has sold its inventory. The ratio…

Q: Capital Technologies Inc. began 2020 with inventory of $20,000. During the year, Capital purchased…

A: Inventory Beg bal  $   20,000 JE 3  $20,000 JE4  $   30,000     End bal  $   30,000…

Q: Inventory Analysis A company reports the following: Cost of goods sold $618,675 Average inventory…

A: a)

Q: Inventory Analysis A company reports the following: Cost of goods sold $515,015 Average inventory…

A: Inventory Turnover Ratio = Cost of Goods Sold/ Average Inventory…

Q: Rela taps and tubes uses periodic method and it has reported the following in the year 2020 Sales…

A: Formula for Cost of Sales: =Opening Inventory + Purchases made - Purchase discount - Purchases…

Q: Paco Ltd had the following for the year ended 2020: Ending inventory =$400,00 Opening inventory =$…

A: Cost of sales can be computed by adding the opening Inventory with the purchases made and the total…

Q: Income Statement Calculations Taylor Company uses a periodic inventory system. The following is…

A: Since, Cost of goods sold = opening stock + Net purchases - closing stock

Q: Wang Company's average inventory for 2019 was $75,000 and its inventory turnover for 2019 was 6.0;…

A: Average Inventory for 2019 = $75,000 Inventory turnover for 2019 = 6.0 Wang's 2019 days' sales in…

Q: Days Sales in Inventory Accounts Receivable Turnover Calcute each ratio from the data for 2019 and…

A: Day sales in inventory= Average inventory/COGS*365 days Average inventory = (Beginning inventory+…

Q: Periodic and Perpetual Systems -Calculating Ending Inventory and Cost of Sales using Average Cost,…

A: Specific Identification Method DATE UNITS COST PER UNIT IN $ BALANCE UNITS Opening…

Q: Below is selected financial information for Swingline Inc. 2020 2019 2018 2017 Ending Inventory Cost…

A: The question is based on the concept of ratios analysis. As per the Bartleby guidelines we are…

Q: nventory Analysis The following data were extracted from the income statement of Keever Inc.:…

A: Inventory Turnover = Cost of Goods SoldAverage Inventory   Number of days' sales in Inventory =…

Q: Current Attempt in Progress You assemble the following information for Tamarisk Department Store,…

A: a) Cost of the inventory on December 31, 2020 Cost of Inventory on December 31, 2020 $    676,890…

Q: Question Content Area Based on the following data for the current year, what is the number of days'…

A: Financial ratios are calculated by the management and investors to take several decisions. There are…

Q: Cansela Corporation reports inventory and cost of goods sold based on calculations from a LIFO…

A: LIFO (LIFO stands for Last-in Last-Out) refers to the process of inventory valuation on the basis of…

Q: Old Rose Company's pricing structure has been established to yield a gross margin of 30%. The…

A: Trading account is prepared to find out gross profit or loss during the specified period. All…

Q: Bold Interiors reported the following transactions in October 2020: A (Click on the icon to view the…

A: Calculation of cost of goods sold   Beginning inventory 450 Add purchase (1425 - 65 ) 1360 Add…

Q: Inventory Analysis The following data were extracted from the income statement of Shriver Inc.:…

A: Formulae for day sale in inventory is given below =Average inventory/ cost of goods sold *365 days…

Q: Data taken from the records of XYZ Co. revealed the following for 2020: Inventory - January 1…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: The following information is available for cullumber company for three recent fiscal years.…

A: Solution:- Calculation of Inventory turnover ratio as follows under:-

Q: The Northern Company installed a new inventory management system at the beginning of 2018. Shown…

A: Inventory turnover ratio measures the number of times a company has sold its inventory. The ratio…

Q: a. The inventory at January 1, 2019, had a retail value of $51,000 and a cost of $38,060 based on…

A: The cost-to-retail ratio, also known as the cost-to-retail percentage, reveals what proportion of…

Q: Use the following information regarding Metlock, Inc. and Blossom Company to answer the question…

A: Formula:

Q: Cansela Corporation reports inventory and cost of goods sold based on calculations from a LIFO…

A: 1. 2021: Out of Beginning Inventory 1,000 (11000- 10000)           $ 16 $16,000 Out of…

Q: Calculate the inventory turnover, days sales outstanding (DSO), fixed assets turnover, and total…

A: Inventory turnover=COGS or revenueAverage inventory at cost Days sales outstanding (DSO)=Accounts…

Q: What is Seaside Surfing's COGS if the company had inventory of $20,000 at the beginning of 2019, had…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: ABC Corporation reports the following information for 2020. Based on these figures, what is ABC's…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning…

Q: Following information is available for Nick Company for the year ended 2020:     Additional…

A: Ratio analysis is used by organizations to evaluate the performance of the organization. It also…

Q: The inventory records of Mod Oil Company for January 2020 showed the following data for an item of…

A: Hello, I am only answering first three sub-parts of the question as per the policy and if you want…

Q: Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at…

A: Given the following information: Net sales: $1,095,000 Cost of goods sold: $657,000 Average…

Q: Wickes Ltd has the following figures at December 2020 £ Revenue(90% credit sales) 1,936,000 Opening…

A: Wickes Ltd has the following figures at December 2020 £ Revenue(90% credit sales) 1,936,000 Opening…

Q: On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method.…

A:

Q: How do I complete the inventory analysis

A: Inventory turnover ratio measures the number of times a company has sold its inventory. The ratio…

Q: The following information is available for Cullumber Company for three recent fiscal years.…

A: Inventory Turnover Ratio: Inventory Turnover Ratio shows how effectively inventory is managed by…

Q: mile JungkookCompany reported the following balances at the end of each year: 2020 2019…

A: Solution Given   2020 2019 Inventory 2600000 2900000 Accounts payable 750000…

Q: The January 28, 2020 (fiscal year 2019) financial statements of Firm C reported the following…

A: Under the FIFO method, the inventory that is purchased first is sold first, hence the ending…

Q: Partial income statements for Sherwood Company summarized for a four-year period show the following:…

A: A partial income statement presents data for only a portion of a standard accounting period. This…

Q: The following information is available for Canadian Tire Corporation (in $ millions): 2018 2017 2016…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning…

Q: In its 2019 annual report, Kingbird, Inc. reported inventory of $ 626 million on January 31, 2020,…

A: Inventory turnover is an accounting turnover ratio that determines the number of times inventory is…

Q: Use these figues to answer questions 26-29 Wickes Ltd has the following figures at December 2020…

A: Ratio analysis is a type of technique that is used by the users of the financial statement to gain…

Q: Staley Watch Company reported the following income statement data for a 2 year period:   2019…

A: Following is the answer to the given question

Q: Data taken from the records of XYZ Co. revealed the following for 2020: Inventory - January 1…

A: Gross sales are the sales which are computed by adding gross profit to the cost of goods sold. When…

Q: Inventory turnover and number of days' sales in inventory Financial statement data for years ending…

A: Ratio Analysis - Ratio analysis is the technique use to compare two financial statements. It helps…