The Following Information Is Available for Patterson Company The Inventory Turnover for 2021 Is
A)6

question 18

Multiple Choice

The following information is available for Patterson Company: $\begin{array}{lrr}&2021&2020\\\text { Accounts receivable } & \$ 360,000 & \$ 340,000 \\\text { Inventory } & 280,000 & 320,000 \\\text { Net credit sales } & 3,000,000 & 1,400,000 \\\text { Cost of goods sold } & 1,800,000 & 840,000 \\\text { Net income } & 300,000 & 170,000\end{array}$ The inventory turnover for 2021 is

• A)6.4 times.
• B)6.0 times.
• C)5.6 times.
• D)3.0 times.

---

Definitions:

Channel Conflict

A situation where channels of distribution for the same product or service are in competition, or when sales channels cannibalize each other's sales or impede each other's revenue.

Distribution Coverage

The extent to which a product or service is made available and accessible to customers within a particular market area.

Vendor-Managed Inventory

A supply chain management practice where the supplier assumes responsibility for maintaining an inventory at the buyer's location, often optimizing stock levels and reducing costs.

Channel Practices

The strategies and methods businesses use to distribute their products or services through various marketing channels to the end customer.