BL Industries Has Ending Inventory of $302,800, Annual Sales of $2.33

question 66

Multiple Choice

BL Industries has ending inventory of $302,800, annual sales of $2.33 million, and annual cost of goods sold of $1.41 million. On average, how long did a unit of inventory sit on the shelf before it was sold?

• A) 47.43 days
• B) 22.18 days
• C) 78.38 days
• D) 61.78 days
• E) 83.13 days

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Definitions:

Environmental Responsibility

The duty that individuals and organizations have to act in ways that protect and benefit the environment.

Economic Responsibility

denotes a company's or individual's obligation to make decisions that positively impact the economic well-being of society, including prudent use of resources and fair economic practices.

C.K. Prahalad

An influential business thinker known for his work on core competencies and the bottom of the pyramid concept.

Bottom of the Pyramid

A concept in economics and business that targets the largest but poorest socio-economic groups in a global perspective for business.