A Company Had Gross Profit of $134,200 on Net Sales

question 114

Multiple Choice

A company had gross profit of $134,200 on net sales of $205,000. If ending inventory was $8,000 and average inventory was $7,080, what is the company's inventory turnover?

• A)10.0
• B)8.85
• C)16.77
• D)18.95
• E)28.95

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Definitions:

Torque

A measure of the force that can cause an object to rotate about an axis.

Centerline

The imaginary line that runs down the middle of a vehicle or component, marking its symmetrical axis.

Range Shift Cylinder

A hydraulic cylinder in transmission systems used to change the gear range, enabling different speed and power outputs.