Please Refer to Table 4-1 for the Following Questions

question 123

Multiple Choice

Please refer to Table 4-1 for the following questions.
Table 4-1
Stewart Company
Balance Sheet

-Based on the information in Table 4-1,the inventory turnover ratio is

• A) 1.3 times.
• B) 2.0 times.
• C) 2.5 times.
• D) 2.9 times.

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Definitions:

Damages

A monetary compensation awarded by a court to a person who has suffered a loss or injury.

Incidental Beneficiary

A person or entity that indirectly gains a benefit from a contract to which they are not a party, without the contract specifically intending such benefit.

Beneficiary

A person or entity entitled to receive benefits or assets under a legal arrangement or instrument, such as a will, trust, or insurance policy.

Third-party Beneficiary

An individual or legal entity that gains a benefit from a contract despite not being one of the primary parties involved.