What Is the Inventory Turnover Ratio for ABC Corp

question 9

Multiple Choice

What is the inventory turnover ratio for ABC Corp.if cost of goods sold equals $5,000,current ratio equals 3,quick ratio equals 1.5,and the firm has $1,800 in current assets?

• A) 2.78 times
• B) 4.17 times
• C) 5.56 times
• D) 8.33 times

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Definitions:

Paternalistic/Strategic

Refers to a management style where the company takes a fatherly or strategic interest in the welfare of its employees, often including providing for their needs without seeking their input.

Union Avoidance Strategy

Tactics employed by employers to prevent the formation or influence of labor unions within their organizations.

Participatory Management

An approach in management where employees at all levels are encouraged to contribute ideas towards identifying and solving problems related to their work.

Legal Environment

The framework of laws, regulations, and court decisions that influence the operations of businesses and organizations.