Efficiency Ratio: Gateway Company Has an Inventory Turnover Ratio of 5.6

question 16

Multiple Choice

Efficiency ratio: Gateway Company has an inventory turnover ratio of 5.6. What is the company's days' sales in inventory?

• A) 65.2 days
• B) 64.3 days
• C) 61.7 days
• D) 57.9 days

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Definitions:

My Lai

A village in Vietnam where a mass murder was carried out by U.S. Army soldiers in 1968 during the Vietnam War.

Village

A small community or group of houses in a rural area, larger than a hamlet but smaller than a town, often with a single economy.

Pentagon Papers

A top-secret Department of Defense study of U.S. political and military involvement in Vietnam from 1945 to 1967, leaked to the public in 1971.

Significance

The importance, meaning, or impact of something, particularly in terms of its influence or consequences in a broader context.