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frozen [14]
2 years ago
12

A firm reported year-end cost of goods sold of $10 million. It listed $2 million of inventory on its balance sheet. Using a 365-

day year, how many days did the firm's inventory stay on the premises?
Business
1 answer:
andrew-mc [135]2 years ago
3 0

Answer:

Days on Inventory: 73

Explanation:

<u>First step, calculate the Inventory Turnover</u>

\frac{Sales}{Average Inventory} = $Inventory Turnover

​Where:

In this case we are given with only one inventory so we work with that.

Sales       10

Inventory 2

\frac{10}{2} = $Inventory Turnover

Inventory TO 5

The company sales their inventory 5 times per year

<u>Next, we calculate the days on inventory</u>

\frac{365}{Inventory TO} = $Days on Inventory

Inventory TO 5

Year 365

\frac{365}{5} = $Days on Inventory

Days on Inventory: 73

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Both ________ and ________ increase as the safety inventory is increased.
Wittaler [7]
<span>False. Shortage occurs in a replenishment cycle only if the demand during the lead time exceeds the ROP. True. The fill rate increases and the cycle service level decreases as the safety inventory is increased. False. For the same safety inventory, an increase in lot size increases the fill rate but not the cycle service level.</span>
6 0
2 years ago
Which of these protects customers who purchase defective products? A. A boycott B. A warranty C. Shopper's insurance D. Mediatio
Tomtit [17]

Answer:

Explanation:

If there is a warranty, that will be a shoppers protection providing it is not a recall situation. Shopper's Insurance in Canada at least, does not exist.

Unless it is a class action suit, there is no need for mediation.

Boycotts are generally not used in the situation you have described.

8 0
2 years ago
A customer is looking for a particular brand of sunscreen and has not been able to find it in the store. He approaches you and a
pav-90 [236]

Explanation:

Considering the given situation, I am being a shop keeper and you are being a customer.

Most likely to do:

  • Customers are king. So I don't want to tell any customer "no". So I would support him by saying "Currently the stock has moved, we expect the order to be placed today and will assure to give him tomorrow".
  • So the customer will get hope and would continue to bring business. Building rapport and keeping contacts with customer is the most important.

Least likely to do:

  • Just say to the customer that the stock is not available.
3 0
2 years ago
Sydney has inherited her grandmother's estate worth approximately $4.5 million. She is worried about paying taxes on the estate
weeeeeb [17]

Answer:

She pays the inheritance tax , while the estate is responsible for the estate tax.

Explanation:

Inheritance tax is a form of tax that every beneficiary of an inherited estate must pay. Regardless of the situation and location of the inherited property , inheritance tax is calculated individually for different beneficiary.

The estate in which a particular property is located is responsible for the estate tax. This is calculated based on the value of the property and paid by the estate management for all properties within the estate before rents are remitted to the landlords.

4 0
2 years ago
Read 2 more answers
A company works 320 days per year and has an annual demand of 2080 units of product desires to set an reorder point that will co
GenaCL600 [577]

Answer:

D. Re-order point = 26 days

Explanation:

Given,

Annual Demand, D = 2,080 units

Number of working days = 320 days

Lead time = 4 days

We know,

Re-order point = (Annual demand/Number of working days)*Lead Time

Re-order point = (Annual demand/Number of working days)*Lead Time

Re-order point = (2,080/320)*4

Re-order point = (6.5*4)

Re-order point = 26 days

Therefore, the answer choice is D.

As there is no maximum and average lead time and no replenishment stock, I exclude the safety stock from the re-order point calculation.

3 0
3 years ago
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