Wholesome Ltd

question 45

Multiple Choice

Wholesome Ltd.has a days in inventory ratio of 50 and average inventory of $320,000.What is its cost of goods sold?

• A)cannot be determined
• B)$16,000,000
• C)$2,336,000
• D)$2,191,780

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Definitions:

Garnishment Process

A legal procedure by which a creditor can collect what a debtor owes by requiring a third party to turn over the debtor's wages or property.

Limitations

Restrictions or time limits within which legal action must be initiated or rights enforced to prevent stale claims.

Counterclaim

A claim made by a defendant in opposition to, or as a retaliation against, the plaintiff's claim in a lawsuit.

Costs(Awarded)

Expenses that a court orders one party to pay another, often as part of the judgment in a legal case.