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:

Barter

is a method of exchange where goods or services are traded directly for other goods or services without the use of money.

Generalized Reciprocity

A form of exchange where goods or services are given with the expectation that the recipient will reciprocate in the future without a specified value or time frame.

Generalized Reciprocity

A type of exchange where goods or services are provided without an immediate or specified return, often found within close relationships or communities.

Close Kin

Family members closely related by blood, typically immediate family such as parents, children, and siblings.