Kidz Korner Had Net Sales of $3,001,680 for the Year

question 16

Multiple Choice

Kidz Korner had net sales of $3,001,680 for the year. If the beginning inventory at retail was $241,700 and the ending inventory at retail was $592,100, find the inventory turnover at retail. (Round your answer to the nearest tenth)

• A) 2.5 Times
• B) 5.1 Times
• C) 7.2 Times
• D) 12.4 Times

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Package Together

The process of combining different products or services for sale as one combined offer.

Weekend Booking

Refers to the reservation made for services or accommodations on weekends, often seen in the travel and hospitality industry.

Economists

Professionals who study the production, distribution, and consumption of goods and services, focusing on how economies work and how economic agents interact.