Consider the Following Inventory Data What Is the Average Days in Inventory for the Year

question 11

Multiple Choice

Consider the following inventory data:
$$\begin{array} { l r } \text { Beginning inventory } & \$ 150,000 \\\text { Ending inventory } & 100,000 \\\text { Purchases } & 310,000\end{array}$$
What is the average days in inventory for the year?

• A)126.7 days.
• B)101.4 days.
• C)152.0 days.
• D)111.7 days.

Understand the importance of usage of trade and its impact on contract interpretation and enforcement.

Comprehend the conditions under which oral contracts may be considered enforceable despite the statute of frauds.

Understand the significance of special circumstances, such as promises related to marriage, suretyship, and special manufactures under the statute of frauds.

Recognize how courts interpret and apply promissory estoppel in relation to oral contracts and the statute of frauds.

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Definitions:

Union Growth

The process or trend of increasing membership and influence of labor unions, which advocate for the rights and interests of workers.