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:

Group Practices

Medical service delivery models where several healthcare professionals work together, sharing facilities and resources to provide patient care.

Financial Supplements

Additional monetary resources provided to individuals or organizations, often to support healthcare costs, living expenses, or specific projects.

Fee-For-Service

A payment model where healthcare providers are paid for each service, such as tests, treatments, and procedures, rather than receiving a fixed salary.

Three-Tiered System

A structure often used in healthcare or education that divides services or responses into three levels of intensity or complexity.