ABC Incprovided the Following Data for the Year End: Cost of of Goods

question 83

Multiple Choice

ABC Inc.provided the following data for the year end: Cost of goods sold
$4,680,000
Inventory at the beginning of the year
678,000
Inventory at the end of the year
570,000
​
What is ABC Inc.'s days' sale in inventory? (Assume 360 days in a year)

• A) 95 days
• B) 13 days
• C) 60 days
• D) 48 days

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Definitions:

Price Discrimination

A pricing strategy where different prices are charged for the same product or service in different markets or to different segments of consumers based on demand, market conditions, or other factors.

Disguised Subsidy

A form of financial support that is not explicitly recognized as a subsidy, often embedded within other transactions or policies that provide an advantage to certain firms or sectors.

Seller

An individual, company, or entity that offers products or services for sale to consumers or other businesses.

Monopolistically Competitive Industry

An industry characterized by many firms producing slightly differentiated products, leading to competitive market conditions but with each firm maintaining some market power.