Waters Department Store Had Net Credit Sales of $16,000,000 and Cost

question 116

Multiple Choice

Waters Department Store had net credit sales of $16,000,000 and cost of goods sold of $12,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is

• A) 8 times.
• B) 14 times.
• C) 6 times.
• D) 4 times.

---

Definitions:

Necrotization

The process of tissue death within the body, where cells in the body die off in a localized area due to disease, injury, or lack of blood supply.

Staple Extractor

A tool designed to remove staples from documents or other materials.

Staples

Thin pieces of metal used to fasten sheets of paper together, inserted through the sheets and clinched over.

Antiseptic

An agent that will prevent the growth or arrest the development of microorganisms.