The Walker Department Store had net credit sales of $8,000,000 and cost of goods sold of $6,000,000 for the year. The average inventory for the year amounted to $2,000,000. The inventory turnover ratio for the year is
A) 4 times
B) 7 times
C) 3 times
D) 2 times
C
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How can a multi-product firm determine its break-even point?
Stanton Inc. is considering the purchase of a new machine, which will reduce manufacturing costs by $5,000 annually and increase earnings before depreciation and taxes by $6,000 annually. Stanton will use the MACRS method to depreciate the machine, and it has estimated the depreciation expense for the first year as $8,000. Which of the following is the supplemental operating cash flow for the first year if Stanton's marginal tax rate is 40 percent?
A. $15,000 B. $23,000 C. $40,000 D. $9,800 E. $4,500
Overallocated manufacturing overhead occurs when the manufacturing overhead allocated to Work-in-Process Inventory is less than the amount actually incurred
Indicate whether the statement is true or false
Which of the following expresses the right one has to choose her partners?
A) Partnership by estoppel B) Delectus personae C) Entity theory D) Fiduciary relationship