Stamp, Inc

question 50

Multiple Choice

Stamp, Inc. has an operating cycle of 81 days and takes 47 days to collect on its receivables. What is its level of inventory if the firm's cost of goods sold is $312,455? Round your final answer to the nearest dollar.

• A) $9,190
• B) $14,685
• C) $29,105
• D) $69,339

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Definitions:

Culture

The total of everything in our social environment that we learn through socialization, that is passed down from one generation to the next, and that continues to change throughout our lives.

Social Environment

The social environment refers to the immediate physical and social setting in which people live or in which something happens or develops. It includes the culture that the individual is educated or lives in, and the people and institutions with whom they interact.

Customs And Traditions

The collective habits, practices, ceremonies, and rituals that are handed down within a culture, reflecting the values, beliefs, and history of a community.

Socialization

The process by which individuals learn the values, norms, and behaviors appropriate to their society.