Selected Information from the Accounting Records of Espy Company Is

question 40

Multiple Choice

Selected information from the accounting records of Espy Company is as follows:

Espy's inventory turnover for 2014 is

• A)5.36 times.
• B)3.85 times.
• C)3.67 times.
• D)3.57 times.

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Definitions:

Profitable

A state or condition of yielding a financial profit or gain; it is often considered after all expenses have been deducted.

Opportunity Cost

The cost of foregone alternatives; the value of the best alternative that is not chosen.

Leisure

Free time when individuals are not working, which can be used for rest, recreation, or personal activities.

Opportunity Cost

The worth of the best option that was given up to make a choice.