Use the Following Information for Questions

question 106

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 days in inventory during the year was

• A)15 days.
• B)11 days.
• C)91 days.
• D)122 days.

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Definitions:

Rate

A measure of how quickly or slowly something happens or changes over a particular period of time.

Fetal Hemoglobin

A type of hemoglobin found in fetuses that has a higher affinity for oxygen than the adult form, facilitating oxygen transfer from the mother to the fetus.

Adult Hemoglobin

A type of hemoglobin that is predominant in adults, consisting of two alpha and two beta chains, and responsible for transporting oxygen from the lungs to the rest of the body.

Oxygen Affinity

The tendency of a molecule, such as hemoglobin, to bind with oxygen. A higher affinity means oxygen is more tightly held.