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:

Population

The total number of persons inhabiting a particular country, area, or place.

Generalize

The process of forming general concepts by abstracting common properties of instances.

Experimental Group

In an experiment, the group receiving the treatment under study.

Control Group

In an experiment, a group of people, similar to those in the experimental group, who do not receive the treatment under study.