What Is the Monthly Inventory Turnover Rate If the Yearly

question 22

Short Answer

What is the monthly inventory turnover rate if the yearly drug purchases equaled $1,188,000 and the average inventory for the same period was $132,000?

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Definitions:

Real Property

Land and anything permanently attached to it, such as buildings, also known as real estate.

Execution

An action to carry into effect the directions in a court decree or judgment.

Attachment

(1) In the context of secured transactions, the process by which a security interest in the property of another becomes enforceable. (2) In the context of judicial liens, a court-ordered seizure and taking into custody of property prior to the securing of a judgment for a past-due debt.

Unsecured Creditor

A creditor who lends money without obtaining specified assets as collateral, thus facing higher risk in case of borrower's bankruptcy.