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Selected data for Jill and Jack, two merchandising companies, are presented below: (data for the year 2018) Jill Jack Sales Revenue $500,000 $800,000 Cost of
Selected data for Jill and Jack, two merchandising companies, are presented below:
| (data for the year 2018) | Jill | Jack |
|---|---|---|
| Sales Revenue | $500,000 | $800,000 |
| Cost of goods sold | 350,000 | 500,000 |
| Average inventory balance | 50,000 | 50,000 |
Based on this data, which statement below is definitely true?
| Jill has a lower investment in inventory than Jack. |
| Jack has a lower cost of storage than Jill. |
| Jack has a higher net income than Jill. |
| Jack sells its inventory faster than Jill. |
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Forensic And Investigative Accounting
Authors: Larry Crumbley, Lester E. Heitger, G. Stevenson Smith
4th Edition
0808021435, 9780808021438
