# Thompsons 2013 inventory turnover ratio is a 391 b

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Chapter 17 / Exercise E 17-8A
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified
69.Thompson's 2013 inventory turnover ratio is: A. 3.91.B. 4.00.C. 4.88.D. 5.00.
70.Robertson Corporation's inventory balance was \$22,000 at the beginning of the year and \$20,000 at the end. The inventory turnover ratio for the year was 6.0 and the gross profit ratio 40%. What were net sales for the year?
Anthony Thomas Candies (ATC) reported the following financial data for 2013 and 2012:
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Chapter 17 / Exercise E 17-8A
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified
71.ATC's gross profit ratio (rounded) in 2013 is:
72.ATC's inventory turnover ratio for 2013 is:
73.The average days inventory for ATC (rounded) for 2013 is: A. Less than 100 days.B. 114 daysC. 132 days.D. 151 days.
74.Dollar-value LIFO:
75.Compared to dollar-value LIFO, unit LIFO is:
76.Bond Company adopted the dollar-value LIFO inventory method on January 1, 2013. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:Under the dollar-value LIFO method, the inventory at December 31, 2014, should be
On January 1, 2013, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was \$100,000. The 2013 ending inventory, valued at year-end costs, was \$126,000. The relative cost index for this inventory in 2013 was 1.05.77.What inventory balance should Badger report on its 12/31/13 balance sheet? A. \$126,000B. \$121,000C. \$120,000D. \$100,000
78.Suppose that Badger's 2014 ending inventory, valued at year-end costs, was \$143,000 and that the relative cost index for this inventory in 2014 was 1.10. In determining the inventory balance should Badger report in its 12/31/14 balance sheet:
79.Suppose that Badger's 2015 ending inventory, valued at year-end costs, was \$153,600 and that the relative cost index for this inventory in 2015 was 1.20. What inventory balance would Badger report on its 12/31/15 balance sheet?