The Following Information Pertains to Sampson Company What Is the Inventory Turnover for Sampson?
A)3

question 151

Multiple Choice

The following information pertains to Sampson Company.Assume that all balance sheet amounts represent both average and ending balance figures.Assume that all sales were on credit. $\begin{array}{lr}\text { Assets }\\\text { Cash and short-term investments } & \$ 45,000 \\\text { Accounts receivable (net) } & 25,000 \\\text { Inventory } & 11,000 \\\text { Property, plant and equipment } & 210,000 \\\quad \text { Total Assets } & \$ 291,000\\\\\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 50,000 \\\text { Long-term liabilities } & 90,000 \\\text { Stockholders' equity?Common } & 151,000 \\\quad \text { Total Liabilities and Stockholders' Equity } & \$ 291,0000\\\\\text { Income Statement }\\\text { Sales } & \$ 120,000 \\\text { Cost of goods sold } & 55,000 \\\text { Gross profit } & 65,000 \\\text { Operating expenses } & 30,000 \\\quad \text { Net income } & 35,000\\\\\text { Number of shares of common stock } & 6,000 \\\text { Market price of common stock } & \$ 20 \\\text { Dividends per share } & .50\end{array}$ What is the inventory turnover for Sampson?

• A)3.2 times
• B)5 times
• C)10.9 times
• D)0.20 times

Recognize the impact of illusory correlations and personal biases on the perception of events and decision-making.

Understand the editing capabilities and limitations in different views (Report Layout, Form Layout) within Access.

Grasp the concept of changing field properties and the purpose of specific properties.

Identify and modify objects and labels in database reports and forms for customization.

---

Definitions:

Financial Calculator

A specialized calculator used for financial matters, including calculating interests, loans, investments, amortization, and profit and loss.

Compounded Annually

Interest that is calculated and added to the principal balance once a year.

Compounded Monthly

Involves the addition of interest to the principal sum of a loan or deposit on a monthly basis.

RRSP

Registered Retirement Savings Plan, a Canadian account for holding savings and investment assets, with tax benefits for retirement savings.