The Following Data Were Taken from Bowman Inc

question 92

Essay

The following data were taken from Bowman Inc.
Determine the inventory turnover ratio and the number of days' sales in inventory for Bowman Inc. Round to two decimal places.
Inventory turnover = Cost of merchandise sold / Average inventory
Inventory turnover = 894,000 / ((78,000 + 92,000)/2)
Inventory turnover = 894,000 / 85,000
Inventory turnover = 10.52

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Definitions:

Human Development

The multidisciplinary study of how people grow and change throughout their lives, encompassing physical, cognitive, social, and emotional dimensions.

Ecological-systems Perspective

A theoretical framework in psychology that emphasizes the varying systems of the environment and their impact on individual development, originally developed by Urie Bronfenbrenner.

Psychoanalytic Theorist

An individual who explores and theories about the unconscious motivations that influence human behavior, typically drawing on Freudian concepts.

Developmental Stages

Distinct phases in the life cycle of humans (and other organisms) that are characterized by specific physical, psychological, and cognitive developments.