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It is a liquidity measurement ratio of a company. It is coumpted by dividing the average inventory by the average daily cost of goods sold(cost of goods sold divided by 365). It is a rough measure of the length a company takes to acquire, sell, and replace the inventory. Therefore, a company with a high numbers of days sales in merchandise inventory indicates the company takes long time to finish a inventory circle which is not a good thing for the company
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Sales for the last four months of the year for a company are listed below What is the average of the sales for these four months?
To find the average of the sales for the four months, you would add up the sales figures for each month and then divide the total by 4 (the number of months). For example, if the sales figures are $10,000, $12,000, $15,000, and $13,000, you would add them up ($10,000 + $12,000 + $15,000 + $13,000 = $50,000) and then divide by 4 to get an average of $12,500.
Sales for the last four months of the year for a company are listed below What is the average of the?
A quarter consists of three months like from Jan to Mar is one quarter also known as Q1. If a company wants to find an average sales achieved in the last four months, they should sum up the sales achieved in the previous four months and divide it by 4 to get the average sales for a month. A sales readiness software like Rehearsal VRP, Mindtickle, or Awarathon will help you streamline your sales process online and help you assist in your sales quotas.
HOW MANY BICICLE HELMETS ARE SOLD EACH YEAR?
It is difficult to provide an exact number, as sales figures can vary year to year and by region. However, on average, millions of bicycle helmets are sold worldwide each year.
What percentage of sales are from drive through windows at fast food restaurants?
about 60 % on the big 3 and 50 on the rest
What is the average commercial real estate commission for sales above 30m?
The average commercial real estate commission for sales above $30 million is typically around 1-3% of the total sales price. However, this can vary depending on the specific terms negotiated between the parties involved and the complexity of the transaction. It's important to consult with a real estate professional for accurate and up-to-date information.
If the average number of days sales in merchandise inventory is 40 days the merchandise turnover ration is?
Merchandise turnover ratio = 360 / 40 = 9 times
When preparing a merchandise purchase budget the required purchase in units equals?
budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.
What does it mean to move inventory?
It means to make sales so that the merchandise held in inventory is moved out of inventory.
What does to move to mean?
It means to make sales so that the merchandise held in inventory is moved out of inventory.
What does it mean to move?
It means to make sales so that the merchandise held in inventory is moved out of inventory.
If ending merchandise inventory is overstated?
An overstatment of year-end inventory results in an increase in the gross margin (sales - cost of sales). overstating ending inventroy understates cost of sales
What is an inventory management about?
Inventory management concerns the control and flow of merchandise inventory. Usually computerized, inventory management keeps track of the amount of product on hand and the amount sold and it sometimes will automatically order more merchandise as needed. It is a way of optimizing sales.
How do you find and interpret the the accounting ratio for number of days' in sales inventory?
Number of days' sales in inventory = Inventory / Ave days' cost of goods sold Average days' cost of goods sold = Annual cost of goods sold / 365
What is the journal entry to record a sale from inventory with a trade in?
Sales >>>Cash/Accounts Rec/NotesRec Cost of Goods Sold >>>Merchandise Inventory
What adjusting entry is entered on a work sheet when the ending merchandise inventory is less than the beginning value?
Merchandise Inventory. The value of merchandise in the trial balance is the amount of inventory on hand at the beginning of the year. No other transactions are posted to this account during the year because every time merchandise if purchased, it is debited to Purchases. Every time inventory is sold, it is credited to Sales.
Which of the following accounts has a normal credit balance.. a. Merchandise Inventory b. Delivery Expense c. Sales Returns and Allowances d. Sales?
d. sales
What accounts has a normal debit balance a Merchandise Inventory b Delivery Expense c Sales Returns and Allowances d Sales?
Sales Returns and Allowances
