What Is the Inventory Turnover Ratio for ABC Corp

question 17

Multiple Choice

What is the inventory turnover ratio for ABC Corp.if cost of goods sold equals $5,000,current ratio equals 3.0,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:

Polypeptide Chains

Long chains of amino acids linked by peptide bonds, which fold into specific three-dimensional structures to form proteins.

Steroid Hormone

A type of hormone derived from cholesterol that can pass through cellular membranes and is involved in a wide range of bodily functions.

Nucleic Acid

Organic molecules that serve as the blueprint for proteins and, through the actions of proteins, the entire phenotype of a living organism; includes DNA and RNA.

Hydrolysis

A chemical reaction in which water is used to break down the bonds of a particular substance, commonly involving the disassembly of polymers into monomers.