A Company Began the Year with $150,000 in Inventory and Ended

question 212

Multiple Choice

A company began the year with $150,000 in inventory and ended the year with $170,000 in inventory.Cost of goods sold for the year amounted to $960,000.Assuming 360 days in a year, how long, on average, does it take the company to sell its inventory (to the nearest day) ?

• A) 3 days
• B) 60 days
• C) 6 days
• D) 120 days

---

Definitions:

Substitute Marriage Cohabitation

Living together in a relationship similar to marriage without legally getting married.

Dating Cohabitation

A stage in a romantic relationship where couples choose to live together without being engaged or married, often as a precursor to or alternative to traditional marriage.

Acculturation

The process of cultural change and psychological change that results following meeting between cultures, where individuals or groups of differing cultures come into direct contact and adjust or adapt to each other's cultural norms.

Asian Americans

Individuals of Asian descent in the United States, encompassing a wide range of ethnic groups with diverse cultures, languages, and histories.