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:

Marginal Analysis

An assessment method used to examine the benefits and costs of an extra unit of consumption or production.

Strategic Marketing Process

A systematic approach to planning and executing marketing strategies that align with an organization's overall objectives.

Output Report

A document or data file generated by a computer or a system that summarizes the outcome or results of operations or transactions.

Planning Phase

The initial stage in the project management or strategic planning process where goals are set and strategies are outlined.