With Beginning Inventory at Cost of $9,000, Ending Inventory at Cost

question 12

Multiple Choice

With beginning inventory at cost of $9,000, ending inventory at cost of $7,000, net sales of $51,000, and cost of goods sold of $46,000, the inventory turnover at cost to the nearest hundredth is:

• A)5.75
• B)7.55
• C)5.57
• D)7.57
• E)None of these

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Definitions:

Tears

A liquid produced by the lacrimal glands for lubrication, nourishment of the cornea, and protection against infection in the eye.

Macrophages

A type of white blood cell that engulfs and digests cellular debris, foreign substances, microbes, and cancer cells in a process called phagocytosis.

Lymph Nodes

Small, bean-shaped structures that produce and store cells that help fight infection and disease.

Bacteria

Microscopic, single-celled organisms found in diverse environments, capable of causing disease or contributing to health.