Nico Corporation Has Cost of Goods Sold of $300,000 and Inventory

question 38

Multiple Choice

Nico Corporation has cost of goods sold of $300,000 and inventory of $30,000, then the inventory turnover is ________ and the average age of inventory is ________.

• A) 36.5; 10
• B) 10; 36.5
• C) 36.0; 10
• D) 30; 36.0

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Definitions:

Ex-convicts

Individuals who have been convicted of a crime and have completed their sentence, often facing challenges in re-integrating into society.

HIV/AIDS

An infectious disease caused by the Human Immunodeficiency Virus (HIV) which attacks the immune system and can lead to Acquired Immunodeficiency Syndrome (AIDS).

Homophobic Attitudes

Negative beliefs, feelings, or attitudes towards homosexuality or people who identify or are perceived as being homosexual.

Incarceration Rate

The number of individuals imprisoned per 100,000 population within a given country or jurisdiction.