A Firm Has an Average Age of Inventory of 101

question 85

Multiple Choice

A firm has an average age of inventory of 101 days, an average collection period of 49 days, and an average payment period of 60 days. The firm's inventory turnover is ________.

• A) 3.2
• B) 4.0
• C) 2.5
• D) 3.6

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Definitions:

Charitable Activities

Volunteer or donation-based efforts conducted by individuals or organizations to support causes and help those in need.

Community

A group of people living in the same place or having a particular characteristic in common.

Community-Minded

Having an awareness of the interests and needs of the local community and actively seeking to contribute positively to its welfare.

National Conference

A large meeting focusing on a particular subject or field, gathering specialists and interested parties from across the country.