The Formula, Cost of Sales/average Inventory, Measures The

question 33

Multiple Choice

The formula, cost of sales/average inventory, measures the:

• A) gross profit ratio.
• B) number of times, on average, that inventory is turned over per year.
• C) mark-up on inventory expressed as a percentage of the cost price.
• D) mark-up on inventory expressed as a percentage of the selling price.

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Definitions:

Ethical Issues

Ethical issues in marketing involve the moral principles and values that govern the conduct of individuals and organizations in the creation, exchange, and presentation of goods, services, and ideas.

Legal Issues

Challenges or controversies arising in the application or interpretation of laws, regulations, and legal principles.

Personal Selling

Involves direct face-to-face interaction between a seller and a potential buyer to persuade the buyer to make a purchase.

Self-motivation

The inner drive that prompts an individual to take action and pursue goals without external influence or reward.