The following data were abstracted from the records of Ballistic Corporation for the year:   Sales ................................................. $900,000 Bond interest expense ................................. 50,000 Income taxes .......................................... 200,000 Net income ............................................ 300,000   How many times was bond interest earned? a. 18.0 b. 15.0 c. 11.0 d. 10.0 could you please show me how to calculate

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.