If Beginning and Ending Inventories Are $20,000 and $30,000,respectively,and Cost

question 105

Multiple Choice

If beginning and ending inventories are $20,000 and $30,000,respectively,and cost of goods sold is $450,000,what is the inventory turnover ratio?

• A)18
• B)16
• C)15.5
• D)15

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Definitions:

Integer Division

The process of dividing two integers resulting in an integer quotient, discarding any remainder.

Scientific Notation

A way of expressing numbers that are too big or too small to be conveniently written in decimal form, using powers of 10.

Value

A piece of data or information that can be stored in a variable, passed as a parameter, or returned by a method in programming.

Invalid Identifier

A term used in programming for a name that does not follow the defined naming conventions or rules for identifiers.