Excerpts from Hulkster Company’s December 31, 2018 and 2017, financial statements are presented below: Accounts receivable Merchandise inventory Net sales Cost of goods sold Total assets Total shareholders’ equity Net income 2018 $ 42,000 29,000 213,300 116,000 427,000 242,000 34,000 2017 37,000 37,000 200,000 109,000 406, 000 226,000 29,000 Hulkster’s 2018 inventory turnover is: (Round your answer to 2 decimal places.)
The correct answer is 3.52
Note :
Inventory Turnover = Cost of Goods Sold / (Average Inventory)
= Cost of Goods Sold / [( 2018 Inventory + 2017 Inventory )/2]
= $ 116,000 / [ (29,000+ 37,000) /2]
= 3.52
Our Advantages
Plagiarism Free Papers
All papers are written by the best professional writers to ensure 100% originality. We always provide plagiarism reports whenever we deliver completed papers.
Free Revisions
All papers by Grand Paper Writers are completed and submitted on time. This timely delivery of papers gives you time to go through the paper before the official deadline.
Title-page
As an additional service, we will provide a title page that precedes the contents of your paper. Here, you will provide your personal details.
Bibliography
We also ensure that we provide an extra page for the references or bibliographies following referencing rules.
Originality & Security
At Grandpaperwriters.com, we guarantee students for the provision of security and original work. All your personal information is handled with confidentiality and is not shared with third parties. Additionally, we ensure that we provide original content with accompanying plagiarism reports to show originality.
24/7 Customer Support
Our customer support team is always available 24/7 to provide instant responses to any queries raised by students.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Our Services
Grandpaperwriters.com has the best professional essay writers for quality services.
Pricing
Here, a Grandpaperwriters.com, we do not compromise on the time of our clients. We always deliver all completed papers on or before the deadlines.
Communication
Admission Help & Client-Writer Contact
Grandpaperwriters.com provides an interactive portal where students can communicate directly to their writers.
Deadlines
Paper Submission
Here, a Grandpaperwriters.com, we do not compromise on the time of our clients. We always deliver all completed papers on or before the deadlines.
Reviews
Customer Feedback
Grandpaperwriters.com appreciates feedback from our clients to help us improve the delivery of essay writing services. As such, we are constantly changing our policies to ensure maximum customer and writer satisfaction.