Agnes Company Reported the Following Data What Was the Inventory Turnover Ratio?
A)2

question 40

Multiple Choice

Agnes Company reported the following data: $$\begin{array} { l r } \text { Quick assets } & \$ 55,000 \\\text { Current assets } & 150,000 \\\text { Total liabilities } & 300,000 \\\text { Average net receivables } & 12,600 \\\text { Beginning inventory } & 38,000 \\\text { Long-term liabilities } & 200,000 \\\text { Net credit sales } & 126,000 \\\text { Cost of goods sold } & 84,000 \\\text { Ending inventory } & 46,000\end{array}$$ What was the inventory turnover ratio?

• A)2.2
• B)1.8
• C)2.0
• D)3.0

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Definitions:

Equity Theory

A theory in social psychology that explains how individuals perceive fairness in distribution of resources and treatment in social exchanges.

Inputs

Resources, materials, or information that are provided to a process or system in order to achieve desired outputs or outcomes.

Expectancy Theory

A motivation theory explaining that an individual's motivational force is a function of their expectation that certain behaviors will lead to desired outcomes.

Internal Attribution

The process of attributing the cause of one's own or others' behavior to internal, personal characteristics rather than to external factors.