Mario's Home Systems has sales of $2,730, costs of goods sold of $2,070, inventory of $486, and accounts receivable of $421. How many days, on average, does it take Mario's to sell its inventory?

Assuming the periodic inventory method is used for the current year, the following data were taken from the accounting records:Sales                                                   $900,000Sales returns and allowances              $  30,000Purchases                                            $500,000Purchase returns and allowances        $    8,000Discount received                               $    4,000Freight-in                                            $    2,000Beginning inventory                           $  90,000Ending inventory                                $130,000What was the cost of goods available for sale?Question 1Answera.$584,000b.$620,000c.$530,000d.$580,000Clear my choice

Assume that J-Mart uses a perpetual weighted average inventory system. During the period, it had two sales. Calculate the average cost per unit on hand as of June 8 when it made its first sale.  DateItemUnits/CostJun 1Beginning Inventory10 @ $12Jun 5Purchase10 @ $15Jun 8Sale6 unitsJun 28Purchase10 @ $18Jun 30Sale8 unitsMultiple choice question.$15/unit$33/unit$13.50/unit$10/unit

A company's inventory records report the following: Date Activities Units Acquired at Cost Units Sold at RetailAugust 1 Beginning inventory 15 units @ $38 = $570  August 5 Purchase 10 units @ $39 = $390  August 12 Purchase 20 units @ $40 = $800  August 15 Sales   30 units soldUsing the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?Multiple Choice$400$290$600$1,160$1,760

Stoney Brooke, Incorporated, has sales of $1,040,000 and cost of goods sold of $838,300. The firm had a beginning inventory of $43,000 and an ending inventory of $58,000. What is the length of the inventory period? Assume 365 days per year.Multiple Choice21.69 days18.47 days21.99 days17.72 days18.72 days

Assume that Q-Mart uses a periodic FIFO inventory system. During the year, it sold 14 units. Calculate the dollar value of its cost of goods sold for the period.   Date Activity Jan. 1Beginning Inventory10 @ $12Jan. 5Purchase10 @ $15Jan. 30Purchase10 @ $18Feb. 8Sale14 unitsMultiple choice question.$210$150$240$180