# ACC 650 Grand Canyon University Adopting a New Inventory System Worksheet – Assignment Help

I don’t know how to handle this Accounting question and need guidance.

Don't use plagiarized sources. Get Your Custom Essay on
ACC 650 Grand Canyon University Adopting a New Inventory System Worksheet – Assignment Help
Just from \$13/Page

Question 1: Williams & Sons last year reported sales of \$24 million, cost of goods sold (COGS) of \$20 million, and an inventory turnover ratio of 4. The company is now adopting a new inventory system. If the new system is able to reduce the firm’s inventory level and increase the firm’s inventory turnover ratio to 5 while maintaining the same level of sales and COGS, how much cash will be freed up? Do not round intermediate calculations. Enter your answer in dollars. For example, an answer of \$1.23 million should be entered as 1,230,000,000. Round your answer to the nearest dollar.

Question 2: Medwig Corporation has a DSO of 23 days. The company averages \$8,000 in sales each day (all customers take credit). What is the company’s average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar.

Question 3: A large retailer obtains merchandise under the credit terms of 3/10, net 30, but routinely takes 70 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer’s effective cost of trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places.

Question 4: A chain of appliance stores, APP Corporation, purchases inventory with a net price of \$600,000 each day. The company purchases the inventory under the credit terms of 2/15, net 35. APP always takes the discount but takes the full 15 days to pay its bills. What is the average accounts payable for APP? Round your answer to the nearest dollar.

Question 5: At today’s spot exchange rates 1 U.S. dollar can be exchanged for 11 Mexican pesos or for 110.89 Japanese yen. You have pesos that you would like to exchange for yen. What is the cross rate between the yen and the peso; that is, how many yen would you receive for every peso exchanged? Do not round intermediate calculations. Round your answer to two decimal places.

Question 6: The nominal yield on 6-month T-bills is 5%, while default-free Japanese bonds that mature in 6 months have a nominal rate of 3%. In the spot exchange market, 1 yen equals \$0.012. If interest rate parity holds, what is the 6-month forward exchange rate? Do not round intermediate calculations. Round your answer to five decimal places.

Question 7: A computer costs \$470 in the United States. The same model costs €555 in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations. Round your answer to two decimal places.

Question 8: If euros sell for \$1.33 (U.S.) per euro, what should dollars sell for in euros per dollar? Round your answer to four decimal places.

Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

## Calculate the price of your order

Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

## Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.