Phil's Carvings Sells Its Inventory in 93 Days, on Average

question 79

Multiple Choice

Phil's Carvings sells its inventory in 93 days, on average.Costs of goods sold for the year are $187,200.What is the average value of the firm's inventory? Assume a 365-day year.

• A)$20,129
• B)$47,698
• C)$57,132
• D)$61,096
• E)$32,513

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Definitions:

Dislikes

Negative feelings or aversions individuals have towards specific objects, people, or situations.

Impression Management

The process by which people attempt to control or manipulate the perceptions others have of them, often to appear favorable or competent.

Reinforcement Schedule

A plan or pattern that dictates the timing and frequency of reinforcing consequences in order to modify behavior.

Desired Behavior

The specific actions or responses that an individual or organization aims to elicit from others, often through incentives or guidelines.