A Company Had Gross Profit of $134,200 on Net Sales

question 114

Multiple Choice

A company had gross profit of $134,200 on net sales of $205,000. If ending inventory was $8,000 and average inventory was $7,080, what is the company's inventory turnover?

• A)10.0
• B)8.85
• C)16.77
• D)18.95
• E)28.95

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Definitions:

Conservationist

An individual or ideology focused on protecting the natural environment and preserving natural resources.

Generativity

The concern for establishing and guiding the next generation, often manifested through parenting, teaching, and mentorship.

Open Lands

Areas of natural, undeveloped land, often preserved for recreational, ecological, or agricultural purposes.