If Beginning Inventory Is $1,000,000,ending Inventory Is $1,400,000,sales Are $10,000,000,and

question 47

Multiple Choice

If beginning inventory is $1,000,000,ending inventory is $1,400,000,sales are $10,000,000,and anticipated sales are $50,000 per day,what is the days of supply?

• A)28 days
• B)70 days
• C)60 days
• D)32 days

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Definitions:

False Return

A tax return that contains information that is knowingly incorrect, misleading, or incomplete.

Liability

A responsibility or obligation, legal or financial, that arises during the course of business operations.

Negligent Misconduct

Actions or failure to act that demonstrates a careless disregard for the safety or welfare of others, falling below a standard of care.

Willful Misconduct

Intentional wrongdoing or a reckless disregard for the safety and rights of others.