Solve for the Missing Amounts

question 150

Essay

Solve for the missing amounts: $$\begin{array} { | l | r | r | r | } \hline & \text { A } & \text { B } & \text { C } \\\hline \text { Sales } & \$ 100,000 & \$ 239,000 & \$ 438,000 \\\hline \text { Cost of goods sold } & ( \mathrm { a } ) & 122,000 & 345,000 \\\hline \text { Inventory, beginning of year } & 23,000 & 45,000 & ( \mathrm {~h} ) \\\hline \text { Inventory, end of year } & 17,000 & 39,000 & 105,000 \\\hline \text { Average inventory } & ( \mathrm { b } ) & ( \mathrm { e } ) & 101,500 \\\hline \text { Gross profit margin } & 46 \% & ( \mathrm { f } ) & ( \mathrm { i } ) \\\hline \text { Inventory turnover } & ( \mathrm { c } ) & ( \mathrm { g } ) & ( \mathrm { j } ) \\\hline \text { Days in inventory } & ( \mathrm { d } ) & 126 & ( \mathrm { k } ) \\\hline\end{array}$$

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Definitions:

Available-for-Sale Securities

Financial assets that are held for sale in the short term and which can be converted into cash, generally classified as current assets.

Fair Values

The estimated market value of an asset or liability, based on current market prices.

Unrealized Holding

Refers to the increase or decrease in the value of investments held by the company that have not been sold.

Securities Held

Financial instruments that are owned and held by an investor, including stocks, bonds, or other investments.