Direct Sales, Inc

question 191

Multiple Choice

Direct Sales, Inc. had cost of goods sold of $420,000, beginning inventory of $67,000, and ending inventory of $81,000. The days' sales in inventory equals:

• A)5.16
• B)58.2 days
• C)6.27
• D)70.4 days
• E)5.68

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Definitions:

Federal Income Taxes

Taxes imposed by the government on the income of individuals, corporations, and other entities.

Consumer Confidence

is a measure of how optimistic or pessimistic consumers are about their financial prospects and the state of the economy, impacting their spending and saving behaviors.

Psychological Impact

The effect that an event, action, or circumstance has on the mental state or emotional wellbeing of an individual or group.

Net Worth

The total value of an individual's or organization's assets minus liabilities, representing the actual value of ownership equity.