For the Year Ended December 31, Depot Max's Cost of Goods

question 4

Multiple Choice

For the year ended December 31, Depot Max's cost of goods sold was $56,900. Inventory at the beginning of the year was $6,540. Ending inventory was $7,250. Depot Max's number of days' sales in inventory is closest to

• A) 42
• B) 46
• C) 8
• D) 44

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Definitions:

Borrowing

The act of receiving funds from another party with the agreement to repay the principal amount along with any agreed-upon interest or fees.

Contest

A competition or challenge, often with rules and participants aiming to win or achieve a specific outcome.

Earn

To receive income or compensation in exchange for work or through investments.

Rate Of Interest

The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.