The Following Information Was Available for Pete Company at December

question 181

Multiple Choice

The following information was available for Pete Company at December 31, 2018: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $984,000; and sales $1,350,000. Pete's days in inventory in 2018 was

• A) 21.6 days.
• B) 25.9 days.
• C) 29.7 days.
• D) 33.5 days.

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Definitions:

High-altitude Areas

Regions situated at a high elevation above sea level, often characterized by thinner air and cooler climates.

Cultural Syndrome

Patterns of behavior, beliefs, and values that are characteristic of a specific culture, and that influence individual behaviors and perceptions.

Shared Attitudes

Common beliefs or opinions held by a group of people that influence their behaviors and perceptions.

Geographic Region

A specific area or section of space that is identified or defined by its natural or human-made characteristics.