Using the Information Provided,what Is the Inventory Turnover for the Firm

question 71

Multiple Choice

Using the information provided,what is the inventory turnover for the firm? Perfect Purchase Electronics
Selected Income Statement Items,2014
Cash Sales $1,500,000
Credit Sales $7,500,000
Total Sales $9,000,000
COGS $6,000,000
Perfect Purchase Electronics
Selected Balance Sheet Accounts
12/31/2014 12/31/2013 Change
Accounts Receivable $270,000 $240,000 $30,000
Inventory $125,000 $100,000 $25,000
Accounts Payable $110,000 $90,000 $20,000

• A)23.53 times
• B)53.33 times
• C)48.00 times
• D)60.00 times

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Definitions:

Gamma-Aminobutyric Acid

A neurotransmitter in the central nervous system that plays a key role in reducing neuronal excitability throughout the nervous system.

Emotional Responses

Emotional responses are reactions characterized by specific feelings, physical effects, and thoughts in response to stimuli or situations.

Anxiety

A sensation of apprehension, anxiety, or discomfort, often regarding a forthcoming event or an unpredictable result.

Norepinephrine

A neurotransmitter and hormone involved in the body's fight or flight response, affecting heart rate, blood pressure, and glucose levels.