A Company Has Average Inventory on Hand of $40,000 and Its

question 114

Multiple Choice

A company has average inventory on hand of $40,000 and its average days in inventory is 26.4 days.What is the cost of goods sold?

• A)$1,056,000
• B)$553,030
• C)$486,667
• D)$480,000

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Definitions:

Reaction

A process in which one or more substances are changed into one or more different substances through the breaking and formation of chemical bonds.

Major Organic Product

The primary product resulted from an organic reaction, typically the one formed in the greatest yield.

Methylation

The chemical process of adding a methyl group to a molecule, often resulting in changes to the molecule's physical properties or biological activity.

Carboxylic Acid

Organic compounds characterized by a carboxyl group, commonly involved in acid-base reactions and synthesis.