For the Year Ended December 31, 2014 Depot Max's Cost

question 110

Multiple Choice

For the year ended December 31, 2014 Depot Max's cost of merchandise sold was $56,900. Inventory at the beginning of the year was $6,540. Ending inventory was $7,250. Compute Depot Max's inventory turnover for the year.

• A) 8.7
• B) 7.8
• C) 8.3
• D) 44

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Definitions:

Printing Money

The process by which the central bank increases the money supply by physically creating more currency.

Deflation

A decrease in the general price level of goods and services, often indicating a contraction in the supply of money and credit in the economy.

Natural Resources

Raw materials supplied by nature that are used to produce goods and services.

Multilateral Assistance

Financial aid provided by multiple countries or international organizations to support economic development or humanitarian efforts in a recipient country.