Barnett Company Had the Following Records $\begin{array}{lll}&2017&2016\\\text { Ending inventory } & \$ 32,650 & \$ 30,490 \\\text { Cost of goods sold } & 306,300 & 313,600\end{array}$

question 195

Multiple Choice

Barnett Company had the following records: $\begin{array}{lll}&2017&2016\\\text { Ending inventory } & \$ 32,650 & \$ 30,490 \\\text { Cost of goods sold } & 306,300 & 313,600\end{array}$ What is Barnett's average days in inventory for 2017? (rounded)

• A)37.6 days
• B)38.8 days
• C)36.9 days
• D)36.5 days

Understand the legal consequences of unpermitted actions in commercial settings, including deceit and fraudulent misrepresentation.

Apprehend the impact of tort law on public figures and the media's freedom to make fair comment or satire.

Identify the significance of limitation periods in commencing legal actions against individuals or entities, including governments.

Evaluate the role of tort law in protecting individual rights and maintaining societal standards.

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Definitions:

Savings

The portion of income not spent on current expenditures or taxes, which is set aside for future use or investment.

Autonomous Consumption

Spending that does not depend on current income levels, such as basic necessities, implying that this consumption occurs even in the absence of income.

Disposable Income

represents the amount of money that households have available for spending and saving after income taxes have been accounted for.

Saving

The portion of income that is not spent on consumption but rather set aside for future use or emergencies, contributing to personal and national wealth.