A Company Began the Year with $150,000 in Inventory and Ended

question 96

Multiple Choice

A company began the year with $150,000 in inventory and ended the year with $170,000 in inventory.Cost of goods sold for the year amounted to $960,000.Assuming 360 days in a year,how long,on average,does it take the company to sell its inventory (to the nearest day) ?

• A)6 days
• B)60 days
• C)120 days
• D)3 days

---

Definitions:

Low Power Distance

A societal characteristic where individuals perceive little difference in power and status among members, promoting equality and challenging authority.

Feedback

The information and reactions received about an individual's performance or about the results of a business activity, used as a basis for improvement.

Managing Cultural Differences

The practice of acknowledging and adapting to cultural variations in a global business environment.

Recognition

The acknowledgment or appreciation of someone's status, achievements, or rights.