What is the inventory turnover for Weber's Online, Inc.? Weber's Online, Inc. ($ millions)
Current assets:$10,555
Accounts receivable:$5,582
Cash:$3,058
Inventories:$1,734
Sales:$36,938
Cost of goods sold:$30,838
Total current liabilities:$11,609

A: 2.36
B: 3.52
C: 17.8
D: 0.06

Inventory turnover = 17.8 (Approx)

Explanation:

Given:

Current assets = $10,555

Accounts receivable = $5,582

Cash = $3,058

Inventories = $1,734

Sale = $36,938

Cost of goods sold = $30,838

Total current liabilities = $11,609

Find:

Inventory turnover

Computation:

Inventory turnover = Cost of goods sold / Average inventory

Inventory turnover = 30,838 / 1,734

Inventory turnover = 17.8 (Approx)

Amount Jerry owe in June = $2,650

Explanation:

Given:

Premium per month = $150

Total cost (Accident) = $6,000

Deductible amount = $1,500

Coverage limit = $4000

Amount Jerry owe in June = ?

Computation of amount Jerry owe :

Amount Jerry owe in June = Coverage limit - Deductible amount + Premium per month

Amount Jerry owe in June = $4,000 - $1,500 + $150

Amount Jerry owe in June = $2,500 + $150

Amount Jerry owe in June = $2,650