A Company Has an Average Inventory on Hand of $60,000

question 20

Multiple Choice

A company has an average inventory on hand of $60,000 and the average days to sell inventory is 29.2 days. What is the cost of goods sold?

• A) $750,000
• B) $1,752,000
• C) $739,726
• D) $876,000

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Definitions:

Phosphorus

A chemical element with symbol P and atomic number 15, essential for life, involved in numerous cell functions, including energy production and bone formation.

Triglycerides

Simple lipids consisting of glycerol (an alcohol) and three fatty acids.

Lipids

Organic compounds that are fatty acids or their derivatives and are insoluble in water but soluble in organic solvents.

Organic Substances

Compounds containing carbon and typically derived from living organisms, essential to biological processes.