Exhibit 20-1 the Following Information Is for Saratoga Company

question 11

Multiple Choice

Exhibit 20-1 The following information is for Saratoga Company:
Refer to Exhibit 20-1. Determine the number of days in finished goods inventory. Assume a 365-day year.

• A) 44.5
• B) 47.4
• C) 50.7
• D) 96

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Definitions:

Probability

This refers to the likelihood of occurrence of an uncertain event, often expressed as a number between 0 and 1.

Narrowest Bell Curve

Describes a distribution with a high peak and steep sides, indicating that the data points cluster closely around the mean, showing low variability.

Large-company Stocks

Equities issued by corporations with a large market capitalization, often considered more stable investments than those of smaller companies.

Treasury Bills

Short-term government securities with maturities of one year or less, sold at a discount from their face value.