The Following Information Is Available for Everett Company at December

question 157

Multiple Choice

The following information is available for Everett Company at December 31, 2018: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $1,050,000; and sales $1,800,000. Everett's inventory turnover in 2018 is

• A) 8.7 times.
• B) 10.5 times.
• C) 13.2 times.
• D) 18 times.

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Definitions:

Oligopoly Model

An economic model that describes a market structure in which a few firms dominate the industry and have the ability to influence prices and market outcomes.

Competitive Market

A market structure in which many firms offer products or services that are similar, leading to high levels of competition.

Remarkable Healing

Significant or extraordinary recovery from illness or injury.

Cournot Duopolists

Firms in a duopoly market structure where each firm chooses its output level assuming the other does not change its output, leading to a strategic interdependence in decision-making.