Question Details

The average days to sell inventory for Fry 



1.	Fry Corporation- computation of cost of goods sold is:
Beginning inventory	$  60,000
Add: Cost of goods purchased	  405,000
Cost of goods available for sale	 465,000
Ending inventory	    90,000
Cost of goods sold	$375,000
The average days to sell inventory for Fry are
a.	58.4 days.
b.	67.6 days.
c.	73.0 days.
d.	87.6 days.
2.	East Corporation- computation of cost of goods sold is:
Beginning inventory	$  60,000
Add: Cost of goods purchased	  405,000
Cost of goods available for sale	465,000
Ending inventory	    80,000
Cost of goods sold	$385,000
The average days to sell inventory for East are
a.	56.9 days.
b.	63.1 days.
c.	66.4 days.
d.	75.8 days.

	3.	The 2010 financial statements of Sito Company reported a beginning inventory of $80,000, an ending inventory of $120,000, and cost of goods sold of $600,000 for the year. Sito- inventory turnover ratio for 2010 is
a.	7.5 times.
b.	6.0 times.
c.	5.0 times.
d.	4.3 times.

4.	Boxer Inc. reported inventory at the beginning of the current year of $360,000 and at the end of the current year of $411,000. If net sales for the current year are $2,214,600 and the corresponding cost of sales totaled $1,879,400, what is the inventory turnover ratio for the current year?
a.	5.74.
b.	4.57.
c.	5.39.
d.	4.88.




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