RatioAnswer Days Sales in InventoryAnswer

260.71

CorrectMarks for this submission: 10.00/10.00.Question 10CorrectMark 10.00 out of 10.00Flag questionQuestion textOn December 31, 2015, Panettone Inc. has total liabilities of $555,500 and total equity of $1,049,500. The company needs to raise additional funds through debt and equity. The company will issue 4,000 shares of common stock at $13.25 per share and in addition it intends to borrow as much as it can from Bank of Switzerville. Bank of Switzerville requires a maximum debt-to-asset ratio of 0.64. What is the maximum additional amount that the company can borrow after the additional stock is issued?

CorrectMarks for this submission: 10.00/10.00.Question 11CorrectMark 10.00 out of 10.00Flag questionQuestion textRZM Store sells jeans. During January 2014, its inventory records for one brand of designer jeans were as follows:QuantityPrice per pairTotalBeginning Inventory10 pairs$20= $200January 6 Purchase4 pairs$25=$100January 10 Sale5 pairsN/AJanuary 15 Purchase7 pairs$30=$210January 20 Sale10 pairsN/AJanuary 25 Purchase 4 pairs$30=$120Using this information, periodic FIFO cost of goods sold is

CorrectMarks for this submission: 10.00/10.00.Question 12CorrectMark 10.00 out of 10.00Flag questionQuestion textRZM Store sells jeans. During January 2014, its inventory records for one brand of designer jeans were as follows:QuantityPrice per pairTotalBeginning Inventory10 pairs$20= $200January 6 Purchase4 pairs$25=$100January 10 Sale5 pairsN/AJanuary 15 Purchase7 pairs$30=$210January 20 Sale10 pairsN/AJanuary 25 Purchase 4 pairs$30=$120The cost of goods sold using the periodic average cost method is

CorrectMarks for this submission: 10.00/10.00.Question 13CorrectMark 10.00 out of 10.00Flag questionQuestion textJohnson Fashion Inc. sells socks. During January 2014, its inventory records for one particular brand of socks were as follows:QuantityPrice per pairTotalBeginning Inventory6 pairs$18 = $108January 6 Purchase3 pairs$16= $48January 10 Sale5 pairsN/AJanuary 15 Purchase8 pairs$15= $120January 20 Sale10 pairsN/AJanuary 25 Purchase 4 pairs$22= $88Using this information, perpetual LIFO cost of goods sold isSelect one:a. $171b. $242c. $240

d. $246FeedbackYour answer is correct.The correct answer is: $240

CorrectMarks for this submission: 10.00/10.00.