Savory Thymes, Inc

question 56

Multiple Choice

Savory Thymes, Inc. had net credit sales of $9,000,000 and cost of goods sold of $5,250,000 for the year. The average inventory for the year amounted to $2,500,000. The inventory turnover for the year is

• A) 3.2 times.
• B) 2.8 times.
• C) 2.6 times.
• D) 2.1 times.

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Definitions:

Innovative and Creative

The ability to come up with new ideas, approaches, or solutions that are novel and effective.

Ethics Competency

The ability to understand, evaluate, and apply ethical standards and practices in decision-making processes.

Absolute Scale

A measurement system that has a fixed starting point or zero value, facilitating the comparison of absolute quantities.

GLOBE Model

A research paradigm that examines the impact of culture on leadership effectiveness and organizational behavior across societies.