The Following Information Is Available for Park Company at December

question 79

Multiple Choice

The following information is available for Park Company at December 31, 2014: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $1,200,000; and sales $1,600,000. Park's inventory turnover in 2014 is

• A) 16 times.
• B) 15 times.
• C) 12 times.
• D) 10 times.

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Definitions:

Sales

The activity or business of selling products or services to customers.

Virtual Teams

Groups of individuals from different locations work together through e-mail, video conferencing, instant messaging, and other electronic media.

Videoconferencing

A technology that allows two or more people at different locations to see and hear each other simultaneously, facilitating remote communication.

Cross-Functional Teams

are groups composed of members from different departments or areas of expertise working together towards a common goal, fostering innovation and problem-solving.