The Following Information Is Available for Everett Company at December

question 71

Multiple Choice

The following information is available for Everett Company at December 31, 2015: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $1,050,000; and sales $1,800,000. Everett's inventory turnover in 2015 is

• A)8.7 times.
• B)10.5 times.
• C)13.2 times.
• D)18 times.

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Definitions:

Polymers

Large molecules made up of many repeated subunits, known for their diverse properties and uses in materials science.

Domestic Petroleum

Petroleum products that are produced, processed, and consumed within a country's borders.

Bioplastics

A type of biodegradable plastic derived from biological substances rather than petroleum, often used as an environmentally friendly alternative to traditional plastics.

Source Materials

Raw materials or substances used in the manufacturing or production process to create a final product.