# Math

posted by .

Joe Ponzio, a financial advisor who bases his investigating strategies on the teachings of Warren Buffett, explains why inventory turnover rates matter to managers, owners, and investors on his August 7, 2009, blog post, He states: "The company doing five turns a year is often in better shape." Jerry Waite is interested in calculating his inventory turnover at retail for his flower and tree nursery. Net sales last year were \$57,250, beginning inventory at retail was \$23,750, and ending inventory at retail was \$5,050. What is his inventory turnover at retail? Round to the nearest hundredth

## Similar Questions

1. ### finance (asset turnover)

Total asset turnover indicates the firm's A. liquidity B. debt postition C. ability to use its assets to generate sales D. profitability I can't remember the name of the ratio right now, but I remember reading about an asset ratio …
2. ### finance (total asset turnover)

Total asset turnover indicates the firm's?
3. ### Acc

The comparative statements of Dillon Company are presented below. Analysis DILLON COMPANY Balance Sheets December 31 Assets 2009 2008 Current assets Cash \$ 21,000 \$ 18,000 Short-term investments 18,000 15,000 Accounts receivable (net) …
4. ### accounting

Exercise 9-13: Accounts receivable turnover L.O. A1 The following information is from the annual financial statements of Lucilla Company. 2009 2008 2007 Net Sales \$ 262,000 \$ 193,000 \$ 245,000 Accounts Receivable, net (year-end) 42,700 …
5. ### accounting

The following financial data were taken from the annual financial statements of Smith corporation: 2007 2008 2009 Current assets \$450,000 \$400,000 \$500,000 Current liabilities \$390,000 \$300,000 \$340,000 Sales \$1,450,000 \$1,500,000 …
6. ### Math

On July 15,2009, the Nixon Car Company purchased 1,000 tires from the Harwell Company for \$50 each. The terms for the sale were 2/10, n/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts. …
7. ### Finance

There are various stakeholders in an organization. The two key stakeholders are the customers and the stockholders. Some financial managers believe that the customer is always right and an organization must do everything possible to …
8. ### Auditing

I need help with this. I was presented with this question: Analytical procedures show that inventory turnover decreased from 31–34 days to 27 days, and gross margins declined to the lowest level in five years. What might this indicate …
9. ### accounting

E15-7 Bennis Company has the following comparative balance sheet data. BENNIS COMPANY Balance Sheets December 31 2009 2008 Cash \$ 15,000 \$ 30,000 Receivables (net) 70,000 60,000 Inventories 60,000 50,000 Plant assets (net) 200,000 …
10. ### accounting

The following financial data were taken from the annual financial statements of Smith corporation: 2007 2008 2009 Current assets \$450,000 \$400,000 \$500,000 Current liabilities \$390,000 \$300,000 \$340,000 Sales \$1,450,000 \$1,500,000 …

More Similar Questions