Inventory Turnover and Days' Sales in Inventory
Financial statement data for years ending December 31 for Salsa Company follow:
20Y7 | 20Y6 | ||||||
Cost of merchandise sold | $2,912,700 | $3,009,790 | |||||
Inventories: | |||||||
Beginning of year | 489,000 | 481,900 | |||||
End of year | 533,000 | 489,000 |
a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place.
Inventory Turnover | |
20Y7 | fill in the blank 1 |
20Y6 | fill in the blank 2 |
b. Determine the days' sales in inventory for 20Y7 and 20Y6. Assume 365 days a year. Round interim calculations and final answers to one decimal place.
Days' Sales in Inventory | |
20Y7 | fill in the blank 3 days |
20Y6 | fill in the blank 4 days |
c. Does the change in the inventory turnover
and the days' sales in inventory from 20Y6 to 20Y7 indicate a
favorable or an unfavorable trend?
Check My Work
Periodic Inventory by Three Methods
The units of an item available for sale during the year were as follows:
Jan. 1 | Inventory | 1,080 units @ $124 |
Feb. 17 | Purchase | 1,440 units @ $125 |
July 21 | Purchase | 1,655 units @ $126 |
Nov. 23 | Purchase | 1,145 units @ $126 |
There are 1,220 units of the item in the physical inventory at December 31. The periodic inventory system is used.
a. Determine the inventory cost by the
first-in, first-out method.
$fill in the blank 1
b. Determine the inventory cost by the last-in,
first-out method.
$fill in the blank 2
c. Determine the inventory cost by the weighted
average cost method. Do not round intermediate calculation
and round final answer to the nearest whole dollar.
$fill in the blank 3
In: Accounting
ou are a new tax accountant. A potential client would like to meet with you to discuss your tax preparation and planning services
A young couple, both employed full time, have a child, age 8, and are considering purchasing a home. They would like to wisely save for retirement and their child’s educations
Before your meeting, prepare a list of tax opportunities or tax issues to highlight with your potential clients. Choose 3 items from your list of tax opportunities or tax issues and expand on them, preparing a short write up on each item that you will share with the potential client.
In: Accounting
What is popular culture? Please explain it's definition, summary and give an example of a current popular culture topic/item/ect...
In: Psychology
In you opinion are the alternative to the inverted u theory really clear alternatives or are they really just modifications of the theory predictions. Explain.
In: Psychology
THIS is to be done in python!
Splitting the Bill- An exercise in input validation Write a python program called splitBill.py that works as follows:
• (10 points) Allow the user to input a bill amount, a tip percent, and the number of people in their party. o Input validation: Make sure to validate the input data. Allow the user to reenter inputs until they enter values which are valid.
▪ Make it easy on the user: To leave a 20% tip, the user should just enter 20. The tip amount should be a number between 1 and 50.
▪ The bill amount should be some numeric value between 1 and 5000.
▪ The number of people should be between 1 and 20. o Your program must follow the design of the BMI program discussed in lecture.
▪ It must have (a version) of the following functions: getNumber, isInputValid, getValidNumberInput, and main as in BMI. • (5 points) Output the amount in dollars each person in the party should pay, assuming they want to split the cost evenly.
o Round the output to at most 2 decimal places. (Search for python’s round() which is not discussed in the book)
o Put a $ sign in front of the output
. o Create a new function getSplitAmount that serves as the brains of your program and returns the amount each person in the party owes. This function is the brains of this program similar to how the getBMICategory is the brains in the BMI program.
• (10 pts) Testing: Write tester functions for the isInputValid and getSplitAmount functions.
• (3 pts) Comments: Write a comment for the getSplitAmount function Here are some examples of how your program should work when all inputs are valid. The highlighted parts were typed by the user. Bill: 100 Tip percent: 20 Number of people: 6 Each person pays: $20.0 Bill: 27.50 Tip percent: 10 Number of people: 2 Each person pays: $15.12
Here are some examples of how your program should work when all inputs are valid.
The highlighted parts were typed by the user.
Bill: 100
Tip percent: 20
Number of people: 6
Each person pays: $20.0
Bill: 27.50 Tip percent: 10
Number of people: 2
Each person pays: $15.12
In: Computer Science
Write a complete java program that Define a class named sample containing:
Please enter two numbers to divide: 10 Hi
You entered wrong input. Try again.
Please enter two numbers to divide: 15 0
Division could not be completed.
Enter 5 double numbers: 2.5 3.1 5.0 9.3 10.0
Which element you want to print? (Choose a number between 0-4): 7
Wrong choice. Try again.
Which element you want to print? (Choose a number between 0-4): 3
The element in position 3 = 9.3
Thank you for using this program.
In: Computer Science
Problem 9-7
Forecasted Statements and Ratios
Upton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships them to its chain of retail stores, and has a staff to advise customers and help them set up their new computers. Upton's balance sheet as of December 31, 2015, is shown here (millions of dollars):
Cash | $ 3.5 | Accounts payable | $ 9.0 | |
Receivables | 26.0 | Notes payable | 18.0 | |
Inventories | 58.0 | Line of credit | 0 | |
Total current assets | $ 87.5 | Accruals | 8.5 | |
Net fixed assets | 35.0 | Total current liabilities | $ 35.5 | |
Mortgage loan | 6.0 | |||
Common stock | 15.0 | |||
Retained earnings | 66.0 | |||
Total assets | $122.5 | Total liabilities and equity | $122.5 |
Sales for 2015 were $375 million and net income for the year was $11.25 million, so the firm's profit margin was 3.0%. Upton paid dividends of $4.5 million to common stockholders, so its payout ratio was 40%. Its tax rate is 40%, and it operated at full capacity. Assume that all assets/sales ratios, spontaneous liabilities/sales ratios, the profit margin, and the payout ratio remain constant in 2016. Do not round intermediate calculations.
Upton Computers Pro Forma Balance Sheet December 31, 2016 (Millions of Dollars) |
||
Cash | $____ | |
Receivables | $ ____ | |
Inventories | $ ____ | |
Total current assets | $ ____ | |
Net fixed assets | $ ____ | |
Total assets | $ ____ | |
Accounts payable | $ ____ | |
Notes payable | $ ____ | |
Accruals | $ ____ | |
Total current liabilities | $ ____ | |
Mortgage loan | $ ____ | |
Common stock | $ ____ | |
Retained earnings | $ ____ | |
Total liabilities and equity | $ ____ |
answer all the blanks ____ and plz show your steps
In: Finance
Frederico owns a local bakery. With the recent Covid 19 pandemic he has had to restrict his store hours and limit his employees’ shifts. He is not sure he’ll be able to stay in business if it goes on much longer. He has eight long-time employees and isn’t sure whether he can keep them employed. Frederico wants to know what his options are in relation to keeping on or getting rid of his employees in terms of employment law issues we have studied in this course.
In: Operations Management
23.) Which of the following restrictions on abortion was created in1989 narrowing the1973 landmark decision made by the U. S. Supreme Court?
a) Parental notification.
b) Limits on federal funding of abortions.
c) Spousal consent.
d) A 24 hour waiting period.
24.) Which of the following, according to our text, depicts a voice from the wilderness as a source of impetus for law?
a) Upton Sinclair’s fictional book on large snakes and a family’s struggle to survive.
b) The investigative reporting which brought Watergate to light.
c) Anti war demonstrations against the Viet Nam war.
d) Rosa Parks refusing to surrender her seat to a white male.
25.) According to feminist legal theory, which is a predominant theme in feminine legal literature?
a) the law is a reflection of a typical male culture.
b) men have strived to maintain their own power and keep women in their place.
c) the very way law argues for neutrality is gender biased.
d) all of the above.
In: Psychology
Develop a testing plan on a new education system
write a 2-page paper addressing the topics/questions below
-What were your main learnings from your testing?
-What worked? What didn’t work?
-What could be improved?
-Any new ideas results from testing? If yes, how can you use them?
-How will you use your test results to improve your solution?
In: Operations Management
IN JAVA PLEASE
Implement a recursive approach to showing all the teams that can be created from a group (n things taken k at a time). Write the recursive showTeams()method and a main() method to prompt the user for the group size and the team size to provide arguments for showTeam(), which then displays all the possible combinations.
In: Computer Science
Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $1.00 coming 3 years from today. The dividend should grow rapidly-at a rate of 34% per year-during Years 4 and 5; but after Year 5, growth should be a constant 9% per year. If the required return on Computech is 15%, what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations.
Carnes Cosmetics Co.'s stock price is $79.38, and it recently paid a $3.00 dividend. This dividend is expected to grow by 22% for the next 3 years, then grow forever at a constant rate, g; and rs = 16%. At what constant rate is the stock expected to grow after Year 3? Round your answer to two decimal places. Do not round your intermediate calculations.
In: Finance
As employer are in a shift to more cloud computing and cloud storage, what is the effect to our expectation of privacy?
Include dangers to users of social media and What remedies are available to victims and how do these differ from remedies victims of traditional crimes and torts?
In: Computer Science
complete the public T removeRandom(), public SetADT<T> union(SetADT<T> set), and the incomplete part in the arraysettester
arrayset.java
package arraysetpackage;
import java.util.Iterator;
import java.util.NoSuchElementException;
import java.util.Random;
public class ArraySet<T> implements SetADT<T>
{
private static final int DEFAULT_SIZE = 20;
private int count;
private T[] setValues;
private Random rand;
public ArraySet (){
this(DEFAULT_SIZE);
} // end of constructor
public ArraySet (int size){
count = 0;
setValues = (T[]) new
Object[size];
rand = new Random();
} // end of constructor
public void add(T element) {
if (contains(element))
return;
if (count == setValues.length)
{
T[] temp = (T[])
new Object[setValues.length*2];
for (int i = 0;
i < setValues.length; i++) {
temp[i] = setValues[i];
}
setValues =
temp;
}
setValues[count] = element;
count++;
}
public void addAll(SetADT<T> set) {
Iterator<T> iter =
set.iterator();
while (iter.hasNext()){
System.out.println(iter.next());
}
// finish: this method adds all of
the input sets elements to this array
}
public boolean contains(T target) {
for (int i = 0; i < count; i++
)
if
(setValues[i].equals(target))
return true;
return false;
}
public String toString () {
String toReturn = "[";
for (int i = 0; i < count; i++)
{
toReturn +=
setValues[i] + " ";
}
toReturn +="]";
return toReturn;
}
public boolean equals(SetADT<T> set) {
// finish: tests to see if this set
and the input set have exactly the same
// elements
return false; // this is just
generic, you need to change the return
}
public boolean isEmpty() {
return count==0;
}
public Iterator<T> iterator() {
return new
ArraySetIterator<T>(setValues,count);
}
public T remove(T element) {
for (int i = 0; i < count; i++ )
{
if
(setValues[i].equals(element)) {
T toReturn = setValues[i];
setValues[i] = setValues[count-1];
count--;
return toReturn;
}
}
throw new
NoSuchElementException("not present");
}
public T removeRandom() {
// finish: remove and return a
random element. you will use the
// local rand object
return null; // this is just
generic, you need to change the return
}
public int size() {
return count;
}
public SetADT<T> union(SetADT<T> set)
{
// finish: a new set is created and
returned. This new set will
// contain all of elements from
this set and the input parameter set
return null; // this is just
generic, you need to change the return
}
}
arraysetester.java:
package arraysetpackage;
import java.util.Iterator;
public class ArraySetTester {
public static void main(String[] args) {
SetADT <String> mySet = new
ArraySet<String>();
for (int i = 0; i < 12;
i++)
mySet.add(new
String("apple"+i));
System.out.println(mySet);
System.out.println("mysize =
"+mySet.size()+ " [expect 12]");
mySet.add(new String
("apple0"));
System.out.println("mysize =
"+mySet.size()+ " [expect 12]");
System.out.println("contains 11? =
"+mySet.contains(new String("11")));
System.out.println("contains
apple11? = "+mySet.contains(new String("apple11")));
try {
String
removedItem = mySet.remove("apple7");
System.out.println(mySet);
System.out.println(removedItem+ " was removed");
} catch (Exception e) {
System.out.println("item not found, can't remove");
}
try {
String
removedItem = mySet.remove("apple17");
System.out.println(mySet);
System.out.println(removedItem+ " was removed");
} catch (Exception e) {
System.out.println("item not found, can't remove");
}
Iterator<String> iter =
mySet.iterator();
while (iter.hasNext()){
System.out.println(iter.next());
}
SetADT <String> mySet2 = new ArraySet<String>();
for (int i = 0; i < 12;
i++)
mySet2.add(new
String("orange"+i));
System.out.println(mySet2);
// add code here to test methods
you finish in ArraySet
// after you complete the existing
methods, do the Case Study
// Approach 1 will be here in the
main
// Approach 2 will be here in
ArraySetTester, but you will
// create a local static method
that you will call from the main
// Approach 3 will start with
uncommenting the prototype in SetADT
// and then creating the method in
ArraySet. Finally you will write
// code here to test the new
method
}
}
arraysetiterator.java
package arraysetpackage;
import java.util.Iterator;
import java.util.NoSuchElementException;
public class ArraySetIterator <T> implements Iterator
<T> {
private int position; //Always points to the next
value
private T [] values;
private int count;
public ArraySetIterator (T [] theValues, int aCount)
{
position = 0;
values = theValues;
count = aCount;
}
public boolean hasNext() {
return position < count;
}
public T next() {
if (position >= count)
throw new
NoSuchElementException("Past " + count + " elements");
position++;
return values[position - 1];
}
public void remove() {
throw new
UnsupportedOperationException("No
remove for ArraySet");
}
}
setadt.java
package arraysetpackage;
import java.util.Iterator;
public interface SetADT<T> {
public void add (T element); //Adds one element to
this set, ignoring duplicates
public void addAll (SetADT<T> set); //Adds all
elements in the parameter to this set,
// ignoring duplicates
public T removeRandom (); //Removes and returns a
random element from this set
public T remove (T element); //Removes and returns the
specified element from this set
public SetADT<T> union (SetADT<T> set);
//Returns the union of this set and the
// parameter
public boolean contains (T target); //Returns true if
this set contains the parameter
//public boolean contains(SetADT<T> Set); //
Returns true if this set contains the parameter
public boolean equals (SetADT<T> set); //Returns
true if this set and the parameter
//contain exactly same elements
public boolean isEmpty(); //Returns true if this set
contains no elements
public int size(); //Returns the number of elements in
this set
public Iterator<T> iterator(); //Returns an
iterator for the elements in this set
public String toString(); //Returns a string
representation of this set
}
In: Computer Science
Calculate the option price using the following information:
Option type | European call |
Time to expiration | 4 months |
Strike price | $30 |
Current underlying stock price | $32 |
Underlying stock expected dividend | $2.00 in 2 months |
Underlying stock volatility | 40% |
Risk-free rate | 6% |
Pricing model | Black-Scholes formula |
Group of answer choices
$3.05
$3.65
$4.32
$5.02
In: Finance