A Company Has $72,500 in Inventory at the Beginning of the Accounting

question 6

Multiple Choice

A company has $72,500 in inventory at the beginning of the accounting period and $65,500 at the end of the accounting period.Sales revenue is $986,400,cost of goods sold is $572,700,and net income is $124,200 for the accounting period.On average,this company has inventory on hand for approximately:

• A)203 days.
• B)44 days.
• C)61 days.
• D)26 days.

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Definitions:

VIE Theory

A psychological theory that suggests individual motivation is determined by the perceived valence, instrumentality, and expectancy of the outcome.

Instrumentality

In motivation theory, it refers to the perceived relationship between performing at a certain level and achieving a particular outcome.

Sales Clerk

An employee typically found in retail settings responsible for processing sales transactions, assisting customers, and managing inventory.

Incentives

Forms of motivation aimed to encourage people towards certain behaviors or actions by offering rewards.