Marks Incan Online Retail Store,recorded an Inventory of $3,000 as of of December

question 85

Multiple Choice

Marks Inc.an online retail store,recorded an inventory of $3,000 as of December 31,2012.Its inventory stood at $3,500 on December 31,2013.The cost of goods sold for the corresponding year was $15,000.Which of the following indicates the inventory turnover ratio of Marks Inc.?

• A)5
• B)4.28
• C)4.61
• D)5.22

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Definitions:

American Dollars

refer to the currency of the United States, used as the primary form of money in the country and a major global reserve currency.

Domestic Inflation

The speed at which the overall price level of goods and services increases, leading to a decrease in the country's purchasing power.

Trade Deficits

A condition in which a nation's expenditures on imported goods and services surpass its earnings from exports, resulting in a trade deficit.

Indebtedness To Foreigners

The total amount of money that a country owes to foreign creditors.