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:

Diverse Workforce

An inclusive representation of individuals in an organization, encompassing a variety of backgrounds, cultures, perspectives, and other differences.

Federal Contract

A legally binding agreement between a business or individual and the federal government to provide goods or services.

Equal Employment Policy

policies that ensure job opportunities, promotions, and workplace equality without discrimination on various bases, including race, gender, and age.

Specified Number Of Minority Employees

Targets or quotas set within a hiring process or organizational policy to ensure a certain number of positions are filled by individuals from minority groups.