The Following Information Was Available for Pete Company at December

question 157

Multiple Choice

The following information was available for Pete Company at December 31, 2015: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $984,000; and sales $1,350,000. Pete's inventory turnover in 2015 was

• A)10.9 times.
• B)12.3 times.
• C)14.1 times.
• D)16.9 times.

Learn about empowerment leadership and how it facilitates self-leadership among followers.

Distinguish between the different perspectives and theories on leadership.

Understand leader-member exchange theory and the concept of in-group and out-group.

Recognize the historical development and impact of early leadership theories.

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Definitions:

Productivity

A measure of the efficiency of production, usually calculated as the ratio of output produced to inputs used.

Marginal Revenue Product

is the additional revenue generated by employing one more unit of input, such as labor or capital, in the production process.

Variable Factor

An input in production that can be varied in the short term, such as labor or raw materials, in contrast to fixed factors like machinery or land.

Factor Of Production

An input used in the production of goods or services in order to make an economic profit. The primary factors include land, labor, capital, and entrepreneurship.