If a Firm's Inventories on Hand Are $200,000 and Its

question 117

Multiple Choice

If a firm's inventories on hand are $200,000 and its cost of goods sold is $600,000, what is the inventory turnover?

• A)2.0 times
• B)3.0 times
• C)4.0 times
• D)5 0.33 times

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Definitions:

Adopted Children

Individuals who have been legally taken into a family different from their birth family, becoming full members of the adoptive family with all the rights and responsibilities that entails.

Biological Parents

The individuals from whom a person inherits their genetic characteristics, typically referred to as the natural mother and father.

Adoptive Parents

Individuals who have legally taken on the responsibility of caring for a child that is not biologically theirs, providing parental care and support.

Human Genome Project

A scientific research project aimed at mapping and understanding all the genes of the human species.