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Year End Receiving Quiz

A firm's inventory turnover (IT) is 5 times on a cost of goods sold (COGS) of $800,000. If the IT is improved to 8 times while the COGS remains the same, a substantial amount of funds is released from or additionally invested in inventory. In fact,

Ninety-percent of Vogel Bird Seed's total sales of $600,000 is on credit. If its year-end receivables turnover is 5, the average collection period (based on a 365-day year) and the year-end receivables are, respectively:

If EOQ = 360 units, order costs are $5 per order, and carrying costs are $.20 per unit, what is the usage in units?

Costs of not carrying enough inventory include:

Which of the following relationships hold true for safety stock?

Increasing the credit period from 30 to 60 days, in response to a similar action taken by all of our competitors, would likely result in:

The credit policy of Spurling Products is "1.5/10, net 35." At present 30% of the customers take the discount, 62% pay within the net period, and the rest pay within 45 days of invoice. What would receivables be if all customers took the cash discount?

An increase in the firm's receivable turnover ratio means that:

Receiving a required inventory item at the exact time needed.

EOQ is the order quantity that_______over our planning horizon.

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