The following data were taken from the annual reports of Jong Inc., a manufacturer of fireworks, and Hobson Inc., a manufacturer of computers.
(a) Determine the (1) inventory turnover and (2) number of day's sales in inventory for Jong and Hobson. Round your answer to two decimal places.
(b) How would you expect these measures to compare between the companies? Why?
Definitions:
Decelerometer
Measures the change in angle of a chassis when it is subjected to aggressive braking. This angle is also known as load transfer, dynamic pitch.
Inclinometer
Used to make angular measurements on driveline components and drivelines; may use a liquid level, laser, or electronic operating principle.
Chassis
The base frame of a vehicle but the term is often used to describe the complete vehicle.
Friction Facings
Materials attached to the surface of clutch and brake components to enhance friction and improve the transfer of force.
Q4: The adjustment for accrued fees was debited
Q28: If a fire destroys the merchandise inventory,
Q35: The inventory costing method that reports the
Q89: Williams Company acquired machinery on July 1,
Q102: In credit terms of 3/15, n/45, the
Q129: Which of the following accounts ordinarily appears
Q131: The amount of the total cash paid
Q161: Purchased goods in transit should be included
Q210: Journalize the entries to record the following
Q218: The proper journal entry to record the