Posted by: Pdfprep
Post Date: January 7, 2021
A corporation is projecting annual sales at $35 million, cost of goods sold (COGS) at $25 million, and administrative expenses at $3 million.
In order to meet its corporate inventory turns goal of 5.0, their inventory level must average:
A . $4.4 million
B . $5 million
C . $7 million
D . $7.6 million.
Answer: D
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