Use the Following Information for Questions

question 18

Multiple Choice

Use the following information for questions
Nelly Inc.reported credit sales of $24,000,000 and cost of goods sold of $18,000,000 for the year.The average inventory for the year was $6,000,000.
-The inventory turnover ratio for the year was

• A)3.0 times.
• B)33.3 times.
• C)4.0 times.
• D)25.0 times.

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Definitions:

Military Victory

The achievement of the planned objectives and the establishment of control over the enemy's resources by military force.

George Washington

The first President of the United States, a Founding Father, and a key leader during the American Revolutionary War.

Comte de Vergennes

A prominent French statesman and diplomat who served as the Foreign Minister under King Louis XVI, playing a key role in supporting the American colonies during the Revolutionary War against Britain.

Social Status

The position or rank of a person or group within the societal hierarchy, often determined by wealth, occupation, education, or family lineage.