This topic contains a solution. Click here to go to the answer

Author Question: Swenson Glass had cost of goods sold for the year of 6,240,000. The beginning inventory at cost was ... (Read 172 times)

ETearle

  • Hero Member
  • *****
  • Posts: 580
Swenson Glass had cost of goods sold for the year of 6,240,000. The beginning inventory at cost was 586,300 and the ending inventory at cost amounted to 492,900. a. What was the average inventory for the year? b. What was the actual inventory turnover rate at cost for the company? (Round your answer to the nearest tenth)

Question 2

Easy Patterns Fabric buys merchandise with a list price of 9,500. Use the net price, complement method to find the net price if the wholesaler offers trade discounts of 25/10/5. (Round to the nearest penny)
 A) 6,900.35
  B) 5,622.03
  C) 4,700.05
  D) 6,091.88



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Laurenleakan

  • Sr. Member
  • ****
  • Posts: 309
Answer to Question 1

a. 539,600
b. 11.6 times

Answer to Question 2

D




ETearle

  • Member
  • Posts: 580
Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review


T4T

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Excellent

 

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

For a complete list of videos, visit our video library