Pham Enterprises The Following Selected Financial Information Is Available for Pham Enterprises

question 141

Multiple Choice

Pham Enterprises
The following selected financial information is available for Pham Enterprises for the year ended December 31, Year 1:
Net sales $450,000 Inventory, 1/1/Year 1 $48,400
Cost of goods sold $299,500 Inventory, 12/31/Year 1 $49,670
-Refer to the information provided in the figure Pham Enterprises.What is the company's inventory turnover ratio for Year 1?

• A) 6.030
• B) 6.108
• C) 6.188
• D) 16.372

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Definitions:

Pavlov

A Russian physiologist known for his research in classical conditioning, demonstrating how stimuli can trigger a conditioned response.

Salivation

The secretion of saliva, often triggered by the sight, smell, or taste of food, preparing the mouth for digestion.

Acquisition

The process of acquiring or gaining knowledge, skills, or objects. In psychology, it often refers to the initial stages of learning.

Classical Conditioning

A conditioning technique that involves repeatedly associating two stimuli; the reaction, which at first occurs due to the second stimulus, eventually occurs due to the first stimulus independently.