The Following Information Was Available for the Year Ended December

question 35

Multiple Choice

The following information was available for the year ended December 31, 2019: $\begin{array}{lr}\text { Net sales } & \$ 300,000 \\\text { Cost of goods sold } & 210,000 \\ \text { Average accounts receivable for the year } & 15,000 \\ \text { Accounts receivable at year-end } & 18,000 \\\text { Average inventory for the year } & 60,000 \\\text { Inventory at year-end } & 70,000\end{array}$ The inventory turnover for 2019 was:

• A)3.0 times
• B)3.5 times
• C)4.3 times
• D)5.0 times

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Definitions:

Marketing Strategy

The means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Global Brand

A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.

Centrally Coordinated

Managed or organized by a central authority or location, ensuring consistency and uniformity across operations or activities.

Marketing Programs

Structured plans composed of various strategies and activities aimed at achieving specific marketing objectives.