Question
In: Accounting
Machlin provided the following data for 2008 and 2009: Inventory December 31, 2007 $174,000 December 31,...
Machlin provided the following data for 2008 and 2009:
| Inventory | |
| December 31, 2007 | $174,000 |
| December 31, 2008 | 187,000 |
| December 31, 2009 | 196,000 |
| Cost of goods sold | |
| 2008 | $547,000 |
| 2009 | 586,000 |
| Gross margin | |
| 2008 | $253,000 |
| 2009 | 291,000 |
Do not round until your final answers. Round all calculations to
two decimal places.
(a) Calculate the inventory turnover ratio for 2008 and
2009.
2008 ___ times
2009 ____ times
(b) Calculate the gross margin return on inventory investment for
2008 and 2009.
2008 _____
2009 _____
Solutions
Expert Solution
(a) Calculate the inventory turnover ratio for 2008 and 2009.
Average inventory 2008 = (174000+187000/2) = 180500
Average inventory 2009 = (187000+196000/2) = 191500
Inventory turnover ratio = Cost of goods sold/average inventory
2008 = 547000/180500 = 3.03 Times
2009 = 586000/191500 = 3.06 times
(b) Calculate the gross margin return on inventory investment for 2008 and 2009.
Gross margin return on inventory investment = Gross margin/average inventory
2008 = 253000*100/180500 = 140.17%
2009 = 291000*100/191500 = 151.96%
ekkarill92 answered 1 year agoRelated Solutions
Consider the data in the following table: Year 2004 2005 2006 2007 2008 2009 Stock A...
Consider the data in the following table:
Year
2004
2005
2006
2007
2008
2009
Stock A
-10%
20%
5%
-5%
2%
9%
Stock B
21%
7%
30%
-3%
-8%
25%
Use the above information to answer the following questions.
Round your answers to four decimal places (i.e. 0.0105).
1. Estimate the average return for stock A.
2. Estimate the average return for stock B.
3. Estimate the volatility of stock A.
4.Estimate the volatility of stock B.
5 .Estimate the...
The following information was reported by Gap, Inc. in its 2009 annual report. 2009 2008 2007...
The following information was reported by Gap, Inc. in its 2009
annual report.
2009
2008
2007
2006
2005
Total assets (millions)
$7,985
$7,564
$7,838
$ 8,544
$ 8,821
Working capital
2,533
1,847
1,653
$ 2,757
$ 3,297
Current ratio
2.19:1
1.86:1
1.68:
2.21:1
2.70:1
Debt to total assets ratio
.39:1
.42:1
.45:
.39:1
.38:1
Earnings per share
$1.59
$1.35
$1.05
$0.94
$1.26
(a) Determine the overall percentage decrease in Gap"s total
assets from 2005 to 2009. What was the average...
End of Year Stock Price $ Returns % 2007 $ 20.91 ------- 2008 14.06 -32.76% 2009...
End of Year
Stock Price $
Returns %
2007
$ 20.91
-------
2008
14.06
-32.76%
2009
24.81
76.46
2010
35.57
43.37
2011
32.58
-8.41
2012
48.02
47.37
2013
67.43
40.42
2014
51.26
-23.98
2015
36.91
-27.99
2016
47.71
29.26
2017
44.55
-6.62
I received that correct answers, however I do not know how to
solve them. Please write out equations for calculator use. Thank
you.
a.) What is the average return?
ANSWER: 13.71%
How do you get that? Show Work....
THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2008 2007 2006...
THE COCA-COLA COMPANY AND
SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
INCOME
Year Ended December 31,
2008
2007
2006
(In millions except per share data)
NET OPERATING REVENUES
$31,944
$ 28,857
$ 24088
Cost of goods sold
11,374
10,406
8,164
GROSS PROFIT
20,570
18,451
15,924
Selling, general and administrative expenses
11,774
10,945
9,431
Other operating charges
350
254
185
OPERATING INCOME
8,446
7,252
6,308
Interest income
333
236
193
Interest expense
438
456
220
Equity income (loss) — net
(874)
668
102
Other...
Consolidated Statements of Income Years ended December 31 ($ millions) 2010 2009 2008 Net sales $26,662...
Consolidated Statements of Income
Years ended
December 31 ($ millions)
2010
2009
2008
Net sales
$26,662
$23,123
$25,269
Operating expenses
Cost of sales
13,831
12,109
13,379
Selling, general and administrative expenses
5,479
4,907
5,245
Research, development and related expenses
1,434
1,293
1,404
Loss/(gain) from sale of business
--
--
23
Total operating expenses
20,744
18,309
20,051
Operating income
5,918
4,814
5,218
Interest expenses and income
Interest expense
201
219
215
Interest income
(38)
(37)
(105)
Total interest expense
163
182...
A corporation reported the following information for years ending 12-31-2008 and 12-31-2007. Use this information to...
A corporation reported the following information for years
ending 12-31-2008 and 12-31-2007. Use this information to
compute free cash flow for the year ended 12-31-2008: DO
NOT SHOW DOLLAR SIGNS OR COMMAS. IF YOUR ANSWER IS NEGATIVE PUT A
MINUS SIGN IN FRONT OF YOU ANSWER.
12-31-2008
12-31-2007
CASH $2,000 $800
ACCTS RECEIVABLE $900
$700
INVENTORY $1,500 $1,800
NET PLANT/EQUIP $10,000 $7,000
ACCOUNTS PAYABLE $700 $500
ACCRUED WAGES $600 $500
EBIT $2,000 $1,000
DEPRECIATION...
Donellys, Inc. has prepared the following comparative balance sheets for 2007 and 2008: 2008 2007 Cash...
Donellys, Inc. has prepared the following comparative balance
sheets for 2007 and 2008: 2008 2007 Cash $ 297,000 $ 153,000
Receivables 159,000 107,000 Inventory 150,000 180,000 Prepaid
expenses 18,000 27,000 Plant assets 1,260,000 1,050,000 Accumulated
depreciation (450,000) (375,000) Patent, net (intangible asset)
153,000 174,000 $1,587,000 $1,316,000 Accounts payable $ 153,000 $
168,000 Accrued liabilities 60,000 42,000 Bonds payable 0 450,000
Preferred stock 645,000 0 Common stock 600,000 600,000 Retained
earnings 129,000 56,000 $1,587,000 $1,316,000 1. The Accumulated
Depreciation account has...
Between about December 2007 and June 2009, the United States was considered to be in a...
Between about December 2007 and June 2009, the United States was
considered to be in a recession. The U.S. Gross Domestic Product
fell approximately 3% from the third quarter of 2008 to the third
quarter of 2009. Also, during December 2007 and June 2009, the
Standard and Poor’s 500 index dropped by 38% and the unemployment
rate climbed from 5% to 9.5%.
The macroeconomic situation affected almost all companies since
higher unemployment affected personal consumption, which dropped
from 10,140.3 Billion...
Between about December 2007 and June 2009, the United States was considered to be in a...
Between about December 2007 and June 2009, the United States was
considered to be in a recession. The U.S. Gross Domestic Product
fell approximately 3% from the third quarter of 2008 to the third
quarter of 2009. Also, during December 2007 and June 2009, the
Standard and Poor’s 500 index dropped by 38% and the unemployment
rate climbed from 5% to 9.5%.
The macroeconomic situation affected almost all companies since
higher unemployment affected personal consumption, which dropped
from 10,140.3 Billion...
Between about December 2007 and June 2009, the United States was considered to be in a...
Between about December 2007 and June 2009, the United States was
considered to be in a recession. The U.S. Gross Domestic Product
fell approximately 3% from the third quarter of 2008 to the third
quarter of 2009. Also, during December 2007 and June 2009, the
Standard and Poor’s 500 index dropped by 38% and the unemployment
rate climbed from 5% to 9.5%.
The macroeconomic situation affected almost all companies since
higher unemployment affected personal consumption, which dropped
from 10,140.3 Billion...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- CODE IN C++ PLEASE Write a program to implement the algorithm that you designed in Exercise...
- Show your work please What is the discount yield, bond equivalent yield, and effective annual return...
- Case 7 of the textbook examines the rise of Wal-Mart as a corporate bohemoth. One of...
- The type of listening that involves trying to understand a situation from the speaker’s perspective is...
- Based on the loanable funds theory, explain how each of the following changes should impact interest...
- research paper: each student will be responsible for writing an argumentative research paper discussion a topic...
- In java based on the classes provided finish the program per the requirements: ----------------------------------------------Class1 package cardgame;...
ADVERTISEMENT