The Following Information Is Available for Oakland Company The Inventory Turnover Ratio for 2017 Is
A)6

question 132

Multiple Choice

The following information is available for Oakland Company: $\begin{array}{lrr}&2017&2016\\\text { Accounts receivable } & \$ 360,000 & \$ 400,000 \\\text { Inventory } & 340,000 & 400,000 \\\text { Net credit sales } & 2,470,000 & 1,400,000 \\\text { Cost of goods sold } & 1,850,000 & 1,060,000 \\\text { Net income } & 300,000 & 170,000\end{array}$ The inventory turnover ratio for 2017 is

• A)6.7 times.
• B)5.0 times.
• C)5.4 times.
• D)4.6 times.

Grasp the relation between current flow and magnetic field orientation.

Understand Lenz's and Ohm's Laws and their applications in electrical circuits.

Recognize the properties and effects of inductors in circuits.

Understand the factors that influence the strength of electro-magnets.

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Definitions:

Monopolistic Competitor

A market structure where many firms offer products or services that are similar but not perfect substitutes, allowing for some degree of market power.

Excess Capacity

describes a situation where a firm produces less than its total output capacity, usually resulting in inefficiencies and higher production costs.

Economic Profit

The difference between total revenue and total economic costs, including both explicit and implicit costs, reflecting the true profitability of a firm.

Elastic

A characteristic of supply or demand that indicates a high responsiveness to changes in price.