Guttery Corporation Has Provided the Following Financial Data from Its

question 44

Multiple Choice

Guttery Corporation has provided the following financial data from its balance sheet:

Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000.
-The company's average sale period (turnover in days) for Year 2 is closest to:

• A)65.6 days
• B)226.6 days
• C)43.8 days
• D)70.6 days

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Definitions:

Just-in-time Scheduling

A production strategy that reduces inventory costs by receiving goods only as they are needed for the production process.

Economic Order Quantity

Is a model used in inventory management to determine the optimal order size that minimizes the total holding costs and ordering costs.

Management by Objectives

Management by objectives is a strategic management model where goals are defined for each employee and performance is assessed based on these goals.

Economic Order Quantity

A formula used to determine the optimal order size that minimizes the total costs of holding inventory and placing orders.