Assume Staley's Had Net Sales of $72,000 Per Day, Beginning

question 31

Multiple Choice

Assume Staley's had net sales of $72,000 per day, beginning inventory of $22,000, and ending inventory at retail of $18,900. What was the inventory turnover at retail?

• A)3.57
• B)3.5
• C)5.5
• D)3.0
• E)None of these

---

Definitions:

Amsterdam

The capital city of the Netherlands, known for its historic canals, cultural heritage, and as a major center of commerce and finance.

Seventeenth Century

The period from 1601 to 1700, marked by significant cultural, political, and scientific developments in Europe and around the world.

Roman Church

Often refers to the Roman Catholic Church, the Christian church headed by the Pope in Vatican City.

Church of England

The primary state church in England, a Christian church of the Anglican tradition, characterized by a middle path (via media) between Roman Catholicism and Protestantism.