Beginning Inventory Is $42,000 and Ending Inventory Is $58,000

question 133

Multiple Choice

Beginning inventory is $42,000 and Ending inventory is $58,000.Cost of goods sold is $600,000.How much is the inventory turnover?

• A) 10.3
• B) 14.3
• C) 12.0
• D) 1.2

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Definitions:

Aggregate Demand

A sum of needs for every good and service across an economy, measured at a particular aggregate price level within a set time period.

Consumer Spending

The sum of expenditures made by all households in an economy on various goods and services.

Investment Spending

Expenditures on physical assets like machinery, buildings, and infrastructure, or on inventory, which are intended to yield productive benefits in the future.

Keynesians

A group of economists who advocate for active government intervention in the economy, especially during recessions, to manage demand through fiscal and monetary policies.