The following data were extracted from the income statement of Brecca Systems Inc.: Current Year Preceding Year Sales $9,700,000 $7,175,000 Beginning inventories 420,000 400,000 Cost of goods sold 5,820,000 4,305,000 Ending inventories 550,000 420,000 a. (1.) Determine for each year the inventory turnover. Round answers to one decimal place. Current year fill in the blank 1 Preceding year fill in the blank 2 (2). Determine for each year the number of days' sales in inventory. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Current year fill in the blank 3 days Preceding year fill in the blank 4 days b. What conclusions can be drawn from these data concerning the inventories

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Which of the following tends to result in a decrease in the selling price of houses in an area? a. an increase in the population of the city or town. b. an increase in the labor costs of construction. c. an increase in the income of new residents in the city or town. d. an increase in mortgage interest rates.