22. Pink Co. purchases 40 units of inventory at $50 per unit. After having the inventory on hand for a period of time, they find the Net Realizable value of each unit to be $65 . What will Pink Co. record for the total value of the inventory?

1. $600

2. $ 2,000

3. $ 3,250

4. $2,600

Question 2

24. Barnes & Noble begins 2019 with $45,000 of inventory, they have purchases of $350,000, and COGS of $325,000. What is their inventory turnover ratio?

1. $ 5.65

2. $6.09

3. $7.22

4. $5.00

Question 3

Target has $250,000 in net sales and a gross profit percentage of 15%. What was Targets COGS?

1. $37,500

2. $ 294,117.65

3. $ 55,000

4. $212,500