-Refer to the Following Selected Financial Information from McCormik,LLC

question 190

Multiple Choice

$$\begin{array} { | l | r | r | } \hline&{ \text { Year 2 } } & { \text { Year 1 } } \\\hline \text { Cash } & \$ 37,500 & 36,850 \\\hline \text { Short-term investments } & 90,000 & 90,000 \\\hline \text { Accounts receivable, net } & 85,500 & 86,250 \\\hline \text { Merchandise inventory } & 121,000 & 117,000 \\\hline \text { Prepaid expenses } & 12,100& 13,500 \\\hline \text { Plant assets } & 388,000 & 392,000 \\\hline \text { Accounts payable } & 113,400 & 111.750 \\\hline \text { Net sales } & 711,000 & 706,000 \\\hline \text { Cost of goods sold } & 390,000 & 385,500 \\\hline\end{array}$$
-Refer to the following selected financial information from McCormik,LLC.Compute the company's inventory turnover for Year 2.

• A) 4.72.
• B) 4.33.
• C) 3.28.
• D) 5.78.
• E) 3.86.

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Definitions:

Rigid Conformity

The strict adherence to societal rules and norms, often suppressing individuality and dissent.

Total Institutions

Places where individuals are cut off from the wider society and their lives are controlled and regulated by the administration of the institution.

Coercive Organizations

Organizations where individuals are compelled to follow strict rules and procedures, often under threat of punishment or force.

Predictability

The quality of being able to be expected or predicted based on past occurrences or known patterns.