Pascarelli Corporation's Inventory at the End of Year 2 Was

question 241

Multiple Choice

Pascarelli Corporation's inventory at the end of Year 2 was $122,000 and its inventory at the end of Year 1 was $150,000. Cost of goods sold amounted to $870,000 in Year 2. The company's average sale period (turnover in days) for Year 2 is closest to:

• A)230.1 days
• B)51.2 days
• C)57.0 days
• D)32.3 days

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Definitions:

Groupthink

A psychological phenomenon occurring within a group of people, in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Flawed Decisions

Pertains to decisions that are made based on incorrect information, biases, or errors in judgment, leading to less than optimal outcomes.

Propinquity

Refers to the physical or psychological proximity between people.

Collectivist Society

A society that emphasizes communal goals, cooperation, and the welfare of the group over individual interests.