JCPenney Had Net Sales of $24,750 Million,cost of Goods Sold

question 33

True/False

J.C.Penney had net sales of $24,750 million,cost of goods sold of $16,150 million,and net income of $837 million.Its gross margin ratio equals 3.4%.

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Definitions:

Credit Sales

Transactions where the goods or services are provided to the customer with the understanding that payment will be made at a later date.

Short-Term Financial Policy

A strategic approach focusing on managing a company's short-term liabilities and assets, vital for ensuring liquidity and operational efficienc.

Financial Distress

A situation where a company cannot meet or has difficulty paying off its financial obligations to creditors, potentially leading to bankruptcy.

Net Working Capital

The disparity between a business's present assets and its immediate obligations, showcasing the company's short-term financial health.