Inventory Turnover Is Calculated by Dividing the Cost of Goods

question 20

True/False

Inventory turnover is calculated by dividing the cost of goods sold by the average inventory.

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Definitions:

Molecule

The smallest unit of a chemical compound that can exist, consisting of two or more atoms bonded together.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

RNA

Ribonucleic acid, a nucleic acid present in all living cells. Its principal role is to act as a messenger carrying instructions from DNA for controlling the synthesis of proteins.

Human Genome

The complete set of nucleic acid sequences for humans, encoded as DNA within the 23 chromosome pairs in cell nuclei and in a small DNA molecule found within individual mitochondria.