The Following Information Was Taken from the Records of Kane

question 92

Multiple Choice

The following information was taken from the records of Kane Company: $\begin{array}{lc}\text { Beginning inventory } & \$ 135,000 \\\text { Encling inventory } & 150,000 \\\text { Net crecdit sales } & 1,440,000 \\\text { Cost of goods sold } & 810,000 \\\text { Net income } & 112,500\end{array}$ Given this information, Kane's inventory turnover is

• A) 5.68
• B) 5.40
• C) 10.11
• D) 1.33

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Definitions:

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.

Negotiation

A process where two or more parties discuss an issue in an attempt to reach a consensus or an agreement.

Social Contract

A theoretical agreement between the members of a society or between a society and its rulers about the rights and duties of each.

Unavoidable Tactic

A strategy so essential to a situation that avoiding it could significantly impact the outcome.