A Company Has an Average Inventory on Hand of $90,000

question 149

Multiple Choice

A company has an average inventory on hand of $90,000 and its average days in inventory is 36.5 days. What is the cost of goods sold?

• A) $900,000
• B) $2,102,400
• C) $2,106,000
• D) $1,051,200

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Definitions:

Reinforce

To strengthen or support, often with additional material or information.

13th Amendment

An amendment to the United States Constitution, adopted in 1865, that abolished slavery and involuntary servitude, except as punishment for a crime.

18th Amendment

An amendment to the United States Constitution that established the prohibition of alcohol, making the production, transport, and sale of alcohol illegal from 1920 until its repeal in 1933.

14th Amendment

An amendment to the US Constitution that grants citizenship to all persons born or naturalized in the United States and prohibits states from denying any person life, liberty, or property without due process of law.