Chodron Corporation Had Net Credit Sales of $13,000,000 and Cost

question 243

Multiple Choice

Chodron Corporation had net credit sales of $13,000,000 and cost of goods sold of $9,250,000 for the year. The average inventory for the year amounted to $1,250,000. The inventory turnover for the year is

• A) 7.4 times.
• B) 10.4 times.
• C) 3.0 times.
• D) 1.4 times.

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Definitions:

Performance

The act of carrying out or accomplishing an action, task, or function, often measured against pre-determined standards or objectives.

Corporate Culture

The collective principles, convictions, and habits that form the sociocultural and psychological backdrop of a corporate entity.

Market Domination

When a company or product holds a predominant share of the market in terms of sales or customer loyalty.

Collaboration

The process of two or more people or organizations working together to complete a task or achieve a goal.