Redeker Company Had the Following Records $\begin{array}{lll}&2017&2016\\\text { Ending inventory } & \$ 32,650 & \$ 30,490 \\\text { Cost of qoods sold } & 213,600 & 209,040\end{array}$

question 122

Multiple Choice

Redeker Company had the following records: $\begin{array}{lll}&2017&2016\\\text { Ending inventory } & \$ 32,650 & \$ 30,490 \\\text { Cost of qoods sold } & 213,600 & 209,040\end{array}$ What is Redeker's inventory turnover for 2017? (rounded)

• A)6.8 times
• B)7.0 times
• C)6.6 times
• D)6.5 times

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Definitions:

Monopolist

An entity that is the sole provider of a particular good or service in a market, often characterized by their ability to influence pricing and availability.

Marginal Cost

The incremental expense incurred when a business produces another item of its product line.

Marginal Cost

The elevation in total spending caused by the assembly of one additional unit of a product or service.

Average Cost

It refers to the total cost divided by the number of goods or services produced.