A Company Had Gross Profit of $134,200 on Net Sales

question 114

Multiple Choice

A company had gross profit of $134,200 on net sales of $205,000. If ending inventory was $8,000 and average inventory was $7,080, what is the company's inventory turnover?

• A)10.0
• B)8.85
• C)16.77
• D)18.95
• E)28.95

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Definitions:

Taste

Refers to the individual preference or inclination towards certain experiences, such as flavors, fashion, art, or literature.

Distribution Of Opportunities

Distribution of opportunities involves how chances for education, employment, and social mobility are spread across different groups in society, often reflecting underlying social and economic structures.

Rewards

Rewards pertain to benefits, compensations, or other forms of recognition provided to individuals or groups in acknowledgement of their achievements, behavior, or effort.

Society

A large group of individuals living together in a community, sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.