Last Year, RJT Enterprises Had Total Inventories (Raw Materials, Work-

question 151

Essay

Last year, RJT Enterprises had total inventories (raw materials, work- in- process, and finished goods) of $7.5 million. During this same year the cost of goods sold was $30 million. The company operates 50 weeks per year.
a. What is their total inventory (measured as weeks of supply)?
b. What is their inventory turnover?

Comprehend the components of VIE theory and its relevance to motivation.

Explain goal theory and how goal setting impacts motivation.

Understand the difference between agents and principals within the context of Agency Theory.

Understand and articulate the criticisms of the insanity defense.

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Definitions:

Transform Faulting

The process of two tectonic plates sliding past each other along a transform fault, leading to significant horizontal displacement.

Seafloor Spreading

The process by which two oceanic plates move apart and new magmatic material is added between the plates.

Continental Rifting

The pulling apart of a continent, forming a low, fault-bounded trough (continental rift); may lead to a divergent plate boundary that leads to seafloor spreading and splitting apart a continent.

Continental Shelves

Submerged landforms at the edges of continents, extending from the coastline to a sharp drop-off into the deeper ocean floor.