Calculate the inventory turnover ratio, Cost Accounting

The following information is available for the automotive division of Ford Motor Company for 2009.  The company uses the LIFO inventory method.

                                    (in thousands)                  2010

                                    Beginning                    $ 39,121

                                    Ending Inventory           48,649

                                    LIFO reserve                29,652

                                    Current Assets             291,033

                                    Current Liabilities          89,504

                                    Cost of Goods Sold     381,813

                                    Sales                            486,217

Instructions

(a) Calculate the inventory turnover ratio and days in inventory.

Posted Date: 2/20/2013 7:45:43 AM | Location : United States







Related Discussions:- Calculate the inventory turnover ratio, Assignment Help, Ask Question on Calculate the inventory turnover ratio, Get Answer, Expert's Help, Calculate the inventory turnover ratio Discussions

Write discussion on Calculate the inventory turnover ratio
Your posts are moderated
Related Questions
1. when using the internal rate of return method to evaluate capital spending on a new project, the project will be accepted if the internal rate of return is equal to or greater t

Winston Duff is planning to borrow $225,000 to purchase a new home. Mr. Duff is considering two fixed-rate financing alternatives offered by Horsepen Creek State Bank. The first

sums with solution of marginal costing

1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases: a. Jacks


1.What is a Statement of Cash Flows? How does it differ from an Income Statement? 2.What unique information does the Statement of Cash Flows deliver to investors? Why do they care?

Difference between budgetary planning and budgetary control

Savage Distribution markets CDs of performing artist Little Sister.  At the beginning of October, Savage had in beginning inventory 1,200 Little Sister's CDs with a unit cost of $5

Beaver Company (a multi-product firm) produces 5,000 units of Product X each year. Each unit of Product X sells for $8 and has a contribution margin of $5. If Product X is disconti

1) Please elaborate on the attached performance report by preparing a presentation to "management" which incorporates the information presented in the performance report. Present t