Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.
Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.
The inventory turnover ratio: A: Is used to analyze profitability. B: Is used to measure solvency. C: Reveals how many times a company turns over (sells) its merchandise inventory. D: Validates the acid-test ratio. E: Calculation depends on the company's inventory valuation method.
The inventory turnover ratio: A: Is used to analyze profitability. B: Is used to measure solvency. C: Reveals how many times a company turns over (sells) its merchandise inventory. D: Validates the acid-test ratio. E: Calculation depends on the company's inventory valuation method.
The quick ratio is measured as: A: current assets divided by current liabilities. B: cash on hand plus current liabilities, divided by current assets. C: current liabilities divided by current assets, plus inventory. D: current assets minus inventory, divided by current liabilities. E: current assets minus inventory minus current liabilities.
The quick ratio is measured as: A: current assets divided by current liabilities. B: cash on hand plus current liabilities, divided by current assets. C: current liabilities divided by current assets, plus inventory. D: current assets minus inventory, divided by current liabilities. E: current assets minus inventory minus current liabilities.
In a job-order costing system, manufacturing overhead applied is recorded as a debit to: A: Raw Materials inventory. B: Finished Goods inventory. C: Work in Process inventory. D: Cost of Goods Sold.
In a job-order costing system, manufacturing overhead applied is recorded as a debit to: A: Raw Materials inventory. B: Finished Goods inventory. C: Work in Process inventory. D: Cost of Goods Sold.
Which one is NOT true? ( ) A: Allowance for Doubtful Accounts is a contra account. B: If the market interest rate is higher than the face rate, the bond<br/>will be issued at premium. C: inventory turnover= cost of goods sold / inventory. D: The accounting principle of China is similar to IFR
Which one is NOT true? ( ) A: Allowance for Doubtful Accounts is a contra account. B: If the market interest rate is higher than the face rate, the bond<br/>will be issued at premium. C: inventory turnover= cost of goods sold / inventory. D: The accounting principle of China is similar to IFR
The second step is to check inventory.
The second step is to check inventory.
Which of the following is the correct formula for cost of sales? A: Opening inventory – purchases + closing inventory B: Purchases – closing inventory + sales C: Opening inventory + closing inventory – purchases D: Opening inventory – closing inventory + purchases
Which of the following is the correct formula for cost of sales? A: Opening inventory – purchases + closing inventory B: Purchases – closing inventory + sales C: Opening inventory + closing inventory – purchases D: Opening inventory – closing inventory + purchases
Palamino Company had an $18,000 beginning inventory and a $21,000 ending inventory. Net sales were 200,000; purchases, $95,000; purchase returns and allowances, $6,000; and freight in,$8,000.What is Palamino's gross profit percentage (rounded to the nearest percentage)? （ ） A: 53% B: 9% C: 47% D: 11%
Palamino Company had an $18,000 beginning inventory and a $21,000 ending inventory. Net sales were 200,000; purchases, $95,000; purchase returns and allowances, $6,000; and freight in,$8,000.What is Palamino's gross profit percentage (rounded to the nearest percentage)? （ ） A: 53% B: 9% C: 47% D: 11%
The echelon inventory at the distributor is equalto the inventory at the distributor, plus the inventory in transit to and in stock at theretailer.
The echelon inventory at the distributor is equalto the inventory at the distributor, plus the inventory in transit to and in stock at theretailer.
In calculating the quick ratio, the inventory portion is deducted from current assets and divided by current liabilities because ( )is the reason for this A: Inventory is not easy to keep B: The quality of inventory is difficult to guarantee C: Low liquidity of inventory D: The quantity of inventory should not be determined
In calculating the quick ratio, the inventory portion is deducted from current assets and divided by current liabilities because ( )is the reason for this A: Inventory is not easy to keep B: The quality of inventory is difficult to guarantee C: Low liquidity of inventory D: The quantity of inventory should not be determined