Use the Following Information for Questions

question 5

Multiple Choice

Use the following information for questions
Winnipeg Washing Machines reported net credit sales of $12,000,000 and cost of goods sold of $9,000,000 for the year.The average inventory for the year was $2,000,000.
-The inventory turnover ratio for the year was

• A)4.5 times.
• B)5.3 times.
• C)6.0 times.
• D)22.0 times.

Understand the impact of supply and demand changes on market equilibrium prices and quantities.

Comprehend the principle of creative destruction and its role in economic innovation and progress.

Explain the implications of marginal cost pricing for resource allocation and firm profitability.

Identify factors that lead to changes in the cost structure of industries and their impact on prices and output.

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Definitions:

Foreclosure Rates

The percentage of properties undergoing the legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments.

Prime Borrowers

Individuals who are considered low-risk by lenders due to their excellent credit history and are thus likely to receive better loan terms.

Government-sponsored Enterprises

Special financial services corporations created by the United States Congress to enhance the flow of credit to specific sectors of the economy, such as housing.

Loanable Funds

Financial resources available for borrowing, often depicted in the market where savers supply funds and borrowers demand funds.