If Sales Are $850,000, the Cost of Sales Is $500,000

question 45

Multiple Choice

If sales are $850,000, the cost of sales is $500,000 and average inventory is $55,000, the average time taken to sell inventory in days is:

• A) 40.15 days.
• B) 33 days.
• C) 23.6 days.
• D) 11 days.

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Definitions:

Absolute Value

The distance of a number from zero on the number line, without regard to direction, represented as |x|.

Function

A correspondence between an array of inputs and a choice of outputs, with the rule that each input associates with just one output.

Speed

The rate at which an object moves, calculated as distance traveled per unit of time.

\(f ( x )\)

A symbolic representation of a function in terms of \(x\), where \(f\) denotes the function and \(x\) represents the variable.