Stephan, Inc. Stephan, Inc. Has an Inventory Turnover Rate of 8 Times

question 35

Multiple Choice

Stephan, Inc.
Stephan, Inc. has an inventory turnover rate of 8 times.
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Refer to the information provided for Stephan, Inc. If its cost of goods sold is $150,000, then the company:

• A) will report sales of $1,200,000.
• B) will report gross margin of $1,200,000.
• C) will have average inventory of $18,750.
• D) sells its inventory 1,200 times per year.

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Definitions:

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The practice of protecting, preserving, managing, or restoring natural environments and their inhabitants.

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A mindset or approach that focuses on identifying and exploiting new business or growth opportunities.

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The internal processes that stimulate and direct human behavior toward achieving personal or professional goals.

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