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The 2020, 2021, and 2022 Partial Balance Sheets for Ottoman

question 139

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The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below. The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below.   Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020, $82,400 for 2021 and $72,500 for 2022. What is the inventory turnover for 2021? A) 2.75 times B) 3.17 times C) 4.00 times D) 4.14 times Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020, $82,400 for 2021 and $72,500 for 2022. What is the inventory turnover for 2021?


Definitions:

Product Differentiation

The method of making a product or service stand out in the market to appeal more to a specific target audience.

Market Segmentation

The process of dividing a broader market into smaller, distinct subgroups of consumers with similar needs, characteristics, or behaviors.

Revenues

The total income generated from normal business operations, including sales of goods and services, before any expenses are deducted.

Nonprofit Food Bank

An organization dedicated to collecting, storing, and distributing food to those in need without profit.

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