Wagon Department Store Had Net Credit Sales of $16,000,000 and Cost

question 20

Multiple Choice

Wagon Department Store had net credit sales of $16,000,000 and cost of goods sold of $15,000,000 for the year.The average inventory for the year amounted to $2,000,000.
-Inventory turnover for the year is

• A)8 times.
• B)15 times.
• C)7.5 times.
• D)5 times.

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Definitions:

Observing

The act of carefully watching and noting phenomena as they occur in order to gather information or come to a conclusion.

Mimicking

The act of imitating someone's actions, speech, or mannerisms, often to enhance social bonding or learning.

Rule Violations

Acts that go against set guidelines or laws, which can range from social norms to legal boundaries.

Associative Play

A stage of play in which children play alongside each other with minimal interaction or cooperation, yet there is some form of association between their activities.