The Juniper Tree carries an average inventory of $164,000. The firm has equity o

Question

The Juniper Tree carries an average inventory of $164,000. The firm has equity of $438,2000, total assets of $679,400 and sales of $734,800. What is the common-size percentage for the inventory account? a. 20.22 percent b. 22.32 percent c. 24.14 percent d. 35.87 percent e. 37.43 percent
The Juniper Tree carries an average inventory of $164,000. The firm has equity of $438,2000, total assets of $679,400 and sales of $734,800. What is the common-size percentage for the inventory account? a. 20.22 percent b. 22.32 percent c. 24.14 percent d. 35.87 percent e. 37.43 percent
The Juniper Tree carries an average inventory of $164,000. The firm has equity of $438,2000, total assets of $679,400 and sales of $734,800. What is the common-size percentage for the inventory account? a. 20.22 percent b. 22.32 percent c. 24.14 percent d. 35.87 percent e. 37.43 percent

Explanation / Answer

SOLUTION

Common-size percentage for the inventory account is 24.14%.

Common-size percentage for the inventory account =

= Average inventory / Total sales

= $164,000 / $679,400

= 24.14%

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