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Business
Fundamental Financial Accounting Concepts
Quiz 5: Accounting for Inventories
The Average Number of Days to Sell Inventory for Company
Question 77
Multiple Choice
The average number of days to sell inventory for Company Y is approximately: A)15.3 B)24.8 C)23.9 D)25.6
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Related questions
Q 78
Given that longer inventory holding periods act to increase expenses,which of the three companies would be expected to have the lowest inventory holding cost? A)All three companies have equal holding costs B)Company X C)Company Y D)Company Z
Q 79
Inventory turnover is calculated by dividing: A)cost of goods sold by inventory. B)sales by inventory. C)beginning inventory by the ending inventory. D)inventory by cost of goods sold.
Q 80
Carson Company has an inventory turnover of 12.75,and its inventory amounts to $2,400,000.What is the amount of cost of goods sold? A)$30,600,000 B)$188,235 C)$26,666,667 D)$51,000
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