A Company Has $72,500 of Inventory at the Beginning of the Year

question 66

Multiple Choice

A company has $72,500 of inventory at the beginning of the year and $65,500 at the end of the year.Sales revenue is $986,400,cost of goods sold is $572,700,and net income is $124,200 for the year.The inventory turnover ratio is:

• A)1.8.
• B)8.3.
• C)6.0.
• D)14.3.

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Definitions:

Affective-Disturbance

A psychological term referring to emotional instability or disorders.

ECT

Electroconvulsive Therapy, a psychiatric treatment where seizures are electrically induced in patients to provide relief from mental disorders.

Drainage Basin

An area in which all drainages merge into a single stream or other body of water.

Flow Response

The reaction or movement of a fluid, such as water or air, in response to external forces or conditions.