Calculate the Inventory Turnover at Cost for Ricky's Department Store

question 41

Multiple Choice

Calculate the inventory turnover at cost for Ricky's Department Store. The starting inventory at cost was $485,800 and the ending inventory at cost was $236,000. Cost of goods sold for the year totaled $2,670,660. (Round your answer to the nearest tenth)

• A) 7.4
• B) 5.5
• C) 3.7
• D) 11.3

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Definitions:

Direct Influence

The exertion of power or guidance by one party over another that leads to immediate or direct changes in behavior or decisions.

Sleeper Effect

A delayed increase in the effectiveness of a persuasive message, often occurring when the source’s credibility is reassessed over time.

Peer Pressure

The influence exerted by a peer group in encouraging an individual to change their attitudes, values, or behaviors to conform to group norms.

Attitude Change

The process by which an individual's feelings, beliefs, or behaviors towards an object, person, or situation are modified.