A firm has current assets of $350,000, current liabilities of $200,000, cost of goods sold of $250,000, and inventory of $75,000. The firm's inventory turnover is

A) 5.0 times.
B) 3.3 times.
C) 2.7 times.
D) 2.0 times.
E) 4.7 times.


B

Business

You might also like to view...

In a periodic inventory system, the cost of purchases is recognized as

a. an increase in an asset account. b. an increase in the inventory account. c. the only part of the calculation of cost of goods sold. d. an integral part of the calculation of cost of goods sold.

Business

A contract modification always results in a new contract if the modification adds distinct goods or services at a price that reflects their stand-alone selling price

Indicate whether the statement is true or false

Business

Group decision-making outcomes are typically improved by merging the identifying solutions and problem identification processes into one activity.

Answer the following statement true (T) or false (F)

Business

A patent is an exclusive right granted to its owner to manufacture and sell a patented item or to use a process for 20 years.

Answer the following statement true (T) or false (F)

Business