The assembly line was invented in 1901 by Ransom E. Olds. This enabled a much larger production of automobiles.
Answer:
The raw material inventory turnover is 9.2 times or 40 days
Explanation:
This problem requires us to compute raw material inventory turnover. The inventory turnover ratio is calculated by dividing the inventory used for a period by the average inventory for that period. Average inventory is used instead of ending inventory because many companies' merchandise fluctuates greatly throughout the year.
So RM inventory turnover = RM used/Average inventory
= 104,600/11,350*
= 9.2 times or 40 days**
* Average inventory = (9,900+ 12,800)/2
** (365/9.2) = 40 days
An example of a person making use of credit is a business owner takes out a loan to expand and redecorate her offices.
<h3>What is credit?</h3>
Credit is when a person makes use of money he or she does not have in her account. Usually, the person borrows the money from a lender. When a business owner takes out a loan, she is making use of credit.
To learn more about credit, please check: brainly.com/question/27547395
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