A Company Has an Average Inventory on Hand of ¥60,000,000

question 62

Multiple Choice

A company has an average inventory on hand of ¥60,000,000 and the days in inventory is 73 days. What is the cost of goods sold?

• A) ¥300,000,000
• B) ¥4,380,000,000
• C) ¥600,000,000
• D) ¥2,190,000,000

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Definitions:

Empirical Rules

Statistical rules that allow for the determination of probability within a normal distribution, stating percentages of data that lie within certain standard deviations from the mean.

Standard Deviations

Measures of how spread out the numbers in a dataset are, indicating the degree of variation from the mean.

Observations

Individual data points or measurements collected during an experiment or survey.

Negatively Skewed

A distribution shape where the tail is longer on the left side of the distribution's peak, indicating that the bulk of the values are towards the right.