Thomas Company Provided the Following Particulars for Year 2015

question 83

Multiple Choice

Thomas Company provided the following particulars for year 2015:
Calculate Thomas's inventory turnover ratio for the year. (Round your answer to two decimal places.)

• A) 5.53 times per year
• B) 3.69 times per year
• C) 2.76 times per year
• D) 1.85 times per year

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Definitions:

Shift

In economics, a change in the position of a demand or supply curve on a graph, indicating a change in the quantity demanded or supplied at every price.

Economic Growth

An increase in the production of goods and services over a specific period, often measured as the rate of increase in gross domestic product (GDP).

Shift

A change in the position of a demand or supply curve on a graph, indicating a change in the quantity demanded or supplied at any given price.

Capital Stock

The total amount of physical goods that are used for production of other goods and services.