Average age of inventory is viewed as the average length of time inventory is held by a firm or as the average number of days' sales in inventory
Indicate whether the statement is true or false
TRUE
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Writ of certiorari (cert.) may be granted when:
A. a person does not want to appeal to the Supreme Court. B. the Supreme Court has too many cases to be heard and has no time to take up a new case. C. there have been conflicting decisions in similar cases by different courts of appeal. D. a case has the validity of a federal statute in agreement.
The sellers of ________ goods carry a wide assortment to satisfy individual tastes. They must have well-trained salespeople to inform and advise customers
A) unsought B) specialty C) convenience D) heterogeneous shopping E) generic
During the year, The Mound Company purchased $1,920,000 of inventory. The cost of goods sold for the year was $1,800,000 and the ending inventory at December 31 was $360,000 . What was the inventory turnover for the year?
a. 6.0 b. 5.0 c. 5.3 d. 6.4
A cost is sunk if it
a. is not an incremental cost. b. is unavoidable. c. has already been incurred. d. is irrelevant to the decision at hand.