The Clock Store Had Net Credit Sales of $ 7,500,000

question 109

Multiple Choice

The Clock Store had net credit sales of $ 7,500,000 and cost of goods sold of $ 4,500,000 for the year. The average inventory for the year amounted to $ 1,500,000. The inventory turnover ratio for the year is

• A) 5 times.
• B) 7.5 times.
• C) 3 times.
• D) 1.67 times.

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Definitions:

Ambiguity

The quality of being open to more than one interpretation; lack of definitiveness or clarity.

Effective Communication

The process of exchanging information or ideas in a way that is clearly understood, ensuring mutual comprehension among all parties involved.

Angry Patient

A patient who expresses frustration or dissatisfaction, often stemming from anxiety, fear, or unmet expectations in a healthcare setting, necessitating empathetic communication.

Complaint

An expression of dissatisfaction or a formal accusation against someone or something.