A Company Had Gross Profit of $134,200 on Net Sales

question 114

Multiple Choice

A company had gross profit of $134,200 on net sales of $205,000. If ending inventory was $8,000 and average inventory was $7,080, what is the company's inventory turnover?

• A)10.0
• B)8.85
• C)16.77
• D)18.95
• E)28.95

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Definitions:

Employee Benefits

Forms of non-wage compensation provided to employees in addition to their normal wages or salaries, such as health insurance, paid vacation, and retirement plans.

Reward System

A structured plan designed to motivate and incentivize individuals or teams by recognizing and rewarding their achievements and contributions.

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A theory that posits individuals learn new behaviors and attitudes through observation and imitation of others within a social context.

Sports Psychology

A discipline that studies how psychological factors influence sports, athletic performance, exercise, and physical activity.