Delmar Company Had Beginning Inventory of $90,000, Ending Inventory of $110,000

question 215

Multiple Choice

Delmar Company had beginning inventory of $90,000, ending inventory of $110,000, cost of goods sold of $600,000, and sales of $960,000. Delmar's days in inventory is:

• A) 38.0 days.
• B) 54.3 days.
• C) 60.8 days.
• D) 67.5 days.

Grasp the concept of the GDP deflator as a measure of changes in price levels and its calculation.

Understand the effects of purchasing domestic versus foreign goods on GDP.

Recognize the distinction between real GDP as an economic well-being measure versus nominal GDP.

Realize the role of government transfers and their exclusion in GDP calculations.

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Definitions:

Operating Activities

Transactions related to the core business operations of a company, including revenue-generating activities and expenses necessary for generating revenue.

Prepaid Expenses

Expenses paid for in advance of the period in which they will be used or consumed, recorded as assets on a balance sheet until the benefit is received.

Accrued Expenses Payable

Liabilities for expenses that have been incurred but not yet paid, recorded on a company's balance sheet.

Part-Time Workers

Employees who work less than the full-time hours defined by their employer, often with a varying schedule.