A Company Has an Average Inventory on Hand of $60000

question 2

Multiple Choice

A company has an average inventory on hand of $60000 and the days in inventory is 73 days. What is the cost of goods sold?

• A) $300000
• B) $4380000
• C) $600000
• D) $2190000

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Definitions:

Food Production

The processes involved in generating food products for consumption, including agriculture, livestock breeding, and aquaculture.

Efficiency

The ability to accomplish a job with a minimum expenditure of time and effort, or the ratio of the output to the input of any system.

Sustainable

The practice of using natural resources in a way that maintains ecological balance and ensures availability for future generations.

Full-cost Pricing

The practice of setting prices based not only on production costs but also on accounting for environmental and social costs associated with the product or service.