Jim Had a Beginning Inventory of $5,500

question 2

Multiple Choice

Jim had a beginning inventory of $5,500. During the month of April he purchased $4,000 of food and had an ending inventory of $3,800 at the end of the month. His sales for April were $8,750. What was his inventory turnover?

• A) 1.2 times
• B) 45.7%
• C) 86:1
• D) 1.88 turns

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Definitions:

Social Categorization

The cognitive process where individuals classify others into groups based on shared traits or characteristics, influencing perception and interaction.

Controlled Process

A thoughtful, deliberate type of thinking that requires focus and awareness, often contrasted with automatic processes.

Depersonalized

Depersonalized describes situations or interactions where individual identities and personal qualities are disregarded, treating people as undifferentiated parts of a group.

Identify

The process of recognizing or establishing the identity of a person or thing.