Grove Corporation Had Sales of $3,000,000,cost of Sales of $2,250,000,and

question 21

Multiple Choice

Grove Corporation had sales of $3,000,000,cost of sales of $2,250,000,and average inventory of $500,000.What was Grove's inventory turnover ratio for the period?

• A)1.6 times
• B)6 times
• C)4.5 times
• D)23 times

---

Definitions:

Certainty

The state of being completely confident or assured about something, without any doubt.

Jeopardy

A situation involving exposure to danger, risk, or harm.

Skepticism

An attitude of doubt or a disposition to incredulity either in general or toward a particular object.

Heuristics

Are simplifying strategies or “rules of thumb” used to make decisions.