Anthony Corporation Reported the Following Amounts for the Year $$\begin{array} { l r } \text { Net sales } & \$ 296,000 \\\text { Cost of goods sold } & 138,000 \\\text { Average inventory } & 50,000\end{array}$$

question 80

Multiple Choice

Anthony Corporation reported the following amounts for the year: $$\begin{array} { l r } \text { Net sales } & \$ 296,000 \\\text { Cost of goods sold } & 138,000 \\\text { Average inventory } & 50,000\end{array}$$ Anthony's inventory turnover ratio is:

• A) 2.42.
• B) 2.76.
• C) 3.21.
• D) 2.14.

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Definitions:

Angry Customer

A term for a customer who expresses dissatisfaction with a service or product, often seeking resolution or venting frustration.

Nonpaying Customers

Individuals who utilize services or products without providing payment for them.

Good Business Practice

A set of ethical guidelines and behaviors that are considered beneficial and appropriate in the business world for fostering success and integrity.

Company Policy

The guidelines and rules set by a company to outline acceptable behaviors and business practices for its employees.