Bell Company Has Provided the Following Figures as of December

question 53

True/False

Bell Company has provided the following figures as of December 31, Year 2: sales of $600,000, cost of goods sold of $320,000, net income of $120,000, and ending inventory of $64,000. Indicate whether each of the above statements pertaining to the Bell Company is true or false.________ a)Bell's inventory turnover is 5.0.________ b)Bell's average number of days to sell inventory is 39.5.________ c)Bell could increase its inventory turnover by increasing prices.________ d)Bell's gross margin as a percentage of sales was 46.7%.________ e)A local competitor in the same line of business has an inventory turnover of 3.5.
Assuming each firm has approximately the same gross margin rate, Bell Company is likely to be more profitable than the competitor.

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Definitions:

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The study of how the brain's physiology affects cognition, emotion, and behavior, often involving the understanding of neurological, psychiatric, and psychological disorders.

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