Sheffield Company has $79,000 of inventory at the beginning of the year and $72,000 at the end of the year. Sales revenue is $1,263,500, cost of goods sold is $801,500, and net income is $152,700 for the year. The inventory turnover ratio is:
A. 16.7
B. 10.6
C. 5.6
D. 3.7
Answer: B
You might also like to view...
Which of the following sentences would be most effective in a presentation to employees in your Tokyo office regarding new hiring policies?
a. Before interviewing potential employees, all department managers must submit an A-32 interview information form to HR. b. To get the ball rolling when hiring a new employee, a department manager should contact Human Resources to provide name, social security number, mailing address, telephone number, position title, starting date, and annual salary. c. Remember, those of us in Human Resources set these hiring policies to help you find someone who fits the needs of your department like a glove. d. When budgeting money for a new position in your department, contact Human Resources for a position request form so we can begin the necessary paperwork to add a position.
Find the total purchase price of 35 bonds that have a coupon rate of 4.50% and a current market price of 102.375. The commission charge is $5.00 per bond. The date of the transaction is April 1, and the bond pays interest on January 1 and July 1.
A. $30,225 B. $36,400 C. $30,226 D. $30,426
Estate planning involves preparing for the orderly transfer of the owner's equity in a business when death occurs.
Answer the following statement true (T) or false (F)
List the major risks associated with user-generated content
What will be an ideal response?