The Following Information Was Available for Bowyer Company at December

question 164

Multiple Choice

The following information was available for Bowyer Company at December 31, 2022: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $800,000; and sales $1,100,000.Bowyer's inventory turnover in 2022 was

• A)13.8 times.
• B)10.0 times.
• C)11.4 times.
• D)8.9 times.

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Definitions:

RAM

Random Access Memory, a form of computer memory that can be accessed randomly and is used for storing data temporarily while programs are running.

Service Pack

An update package issued for software, typically containing fixes for known bugs and vulnerabilities, as well as performance enhancements and new features.

Patch

Software designed to update, fix, or improve a computer program, often addressing security vulnerabilities or bugs.

Upgrade

The process of replacing a product with a newer version or improving its features, capabilities, or performance.