Reference no: EM132498837

Question 1: If a company has a beginning inventory of $30,000 and an ending inventory of $55,000, compute its average inventory. If the COGS is $140,000, compute its inventory turnover and determine how many days the average item is in stock.

Average Inventory = . (Two decimal places. Do not use a dollar sign, comma).

Inventory Turnover = turns per year (Two decimal places).

Days average item is in stock = days. (Two decimal places).

Question 2: Jane's Dress Emporium

Category Cost Payment Period Cost Rent Monthly 1500 Utilities Monthly 400 Insurance Quarterly 300 Salaries Monthly 5000 Sales Monthly 25000 Cost of Goods Sold Monthly 12000

Refer to the table above.

Jane's Dress Emporium has to sell $ each month in order to break even. (Do not use a comma, two decimal places).

Question 3: If Jane sells $10,000 worth of dresses next month her profit or loss will be $ . (Example: Profit should be entered 1234.00 and loss should be entered -1234.00. Do not use a comma, two decimal places).

Question 4: Sarah's Computer City sells 5,000 boxes of CD-RW compact discs per year. She determined that she pays $50 to process an order for discs. Her purchase price is $6 for each box of discs and she has determined that storage costs for one year are 25 percent of the purchase price. What is her approximate economic order quantity? (Whole number, no decimals)

Question 5: If a firm has $400,000 in credit sales and $80,000 in average accounts receivable its accounts receivable turnover is times and its approximate average day's collections are days. ( (Whole numbers, no decimals ).

Question 6: You have an absolutely brilliant child who is six years old and will be attending a private college in twelve years. You know that a four-year college now costs at least $30,000 per year, including tuition, books, room, and board. The cost of sending a child to college has increased by 7 percent per year, and you believe this will be true for the next twelve years. How much will the annual tuition be when your child is eighteen? ( No comma, two decimal places).

Question 7: Carrie Haute buys a fast food restaurant for $500,000. She is very successful and sells the business six years later for $1,375,000. What is Carrie's internal rate of return? ( Enter percentage as xx.xx, without the % sign ).