Consider a Firm with a 2012 Net Income of $20

question 72

Multiple Choice

Consider a firm with a 2012 net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the balance sheet amounts show $2 million of inventory and $500,000 of property, plant & equipment, what is the inventory turnover?

• A) 12.50
• B) 10.00
• C) 42.00
• D) 4.16
• E) 20.00

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Definitions:

Communist-Allied

Being aligned or associated with Communist ideologies or entities, often in a geopolitical sense referring to nations or groups.

Ideological Confrontation

A conflict or clash between differing belief systems, values, or ideologies.

United States

A country in North America consisting of 50 states, a federal district, and several territories, known for its significant influence on global affairs.

Soviet Union

A former federal socialist state in Eastern Europe and Asia, existing from 1922 to 1991, officially known as the Union of Soviet Socialist Republics (USSR), which was composed of multiple republics.