A Company Reported the Following Data Required:
1

question 150

Essay

A company reported the following data:
$$\begin{array} { | l | r | r | } \hline & \text { Year 1 } & \text { Y ear 2 } \\\hline \text { Cost of goods sold } & \$ 317,500 & \$ 279,100 \\\hline \text { Average inventory } & 72,000 & 93,000 \\\hline\end{array}$$ Required:
1. Calculate the company's merchandise inventory turnover for each year.
2. Comment on the company's efficiency in managing its inventory.

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Definitions:

Conditioned Stimulus

A neutral stimulus that, once linked with an unconditioned stimulus, ultimately evokes a conditioned response.

Meat Powder

A term possibly referring to powdered forms of meat used in experiments or as dietary supplements, although it is not a widely recognized scientific or nutritional term.

Unconditioned Stimulus

In classical conditioning, a stimulus that innately and automatically elicits a reaction without the need for previous learning.

Stimulus Generalisation

The tendency for the conditioned response to be evoked by stimuli that are similar to the stimulus that originally evoked the response.