In 20B, Landings Inc

question 12

Multiple Choice

In 20B, Landings Inc. provided the following information in their financial statements: Cost of goods sold under FIFO costing is $22.2 billion and their inventory value under FIFO is $1.3 billion at the end of 20B and $1.2 billion at the end of 20A. What would their inventory turnover ratio be under the FIFO cost flow method?

• A) 18.5
• B) 17.1
• C) 17.8
• D) 8.9

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The process through which individuals acquire and understand moral concepts, principles, and reasoning, typically progressing through identifiable stages.

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The act or practice of putting the needs, concerns, or interests of others before one's own.

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The efforts taken to keep personal or professional connections strong, healthy, and mutually beneficial.

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The process or practice of putting established guidelines or regulations into action.