Kopas Corporation Has Provided the Following Data The Inventory Turnover for This Year Is Closest To:
A)3

question 269

Multiple Choice

Kopas Corporation has provided the following data: $\begin{array}{ll}&\text { This Year } & \text { Last Year } \\\text {Accounts receivable. }&\$ 89,000&\$107,000 \\\text {Inventory. }&\$ 160,000&\$156,000 \\\text {Sales on account. }&\$ 627,000 & \\\text {Cost of goods sold }&\$ 488,000 &\end{array}$ The inventory turnover for this year is closest to:

• A)3.09
• B)0.98
• C)1.03
• D)3.05

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Definitions:

Trilateral

Involving three parties, sides, or aspects; often used in the context of international treaties or agreements.

Mutual Misunderstanding

Mutual misunderstanding occurs when two or more parties have differing interpretations or perceptions about an agreement or situation.

Meeting of the Minds

A mutual agreement or consent among parties in a contract, indicated by a clear understanding and acceptance of essential terms and conditions.

Contract

A legally-binding agreement between two or more parties that outlines obligations and privileges.