Beginning Inventory Is $42 000 and Ending Inventory Is $58

question 69

Multiple Choice

Beginning inventory is $42 000 and Ending inventory is $58 000. Cost of sales is $600 000. Calculate days in inventory.

• A)30.4
• B)25.6
• C)3.4
• D)135.3

Comprehend the beliefs of monetarists, especially regarding the impact of money supply changes during recessions.

Grasp the foundational concepts of various economic schools of thought including Keynesian, classical, and monetarist theories.

Identify the historical periods during which different economic theories were dominant.

Recognize the role of government policy in economic theory, particularly in response to recessions and inflation.

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Definitions:

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Sales

The total revenue a company generates from selling goods, services, or both, within a specific period.

Average Collection Period

The average amount of time it takes for a company to receive payments owed by its customers for goods or services sold on credit.