Homeowners' policies may specifically limit reimbursement on unscheduled personal property

Richardson Auto Supplies reported the following income statement for the year ended December 31,2017

Richardson Auto Supplies Income Statement Year Ended December 31, 2017 Sales Revenue $ 426,500 Cost of Goods Sold Beginning Merchandise Inventory $ 36,000 Net Cost of Purchases 273,800 Cost of Goods Available for Sale 309,800 Less: Ending Merchandise Inventory 41,100 Cost of Goods Sold: 268,400 Gross Profit 158,100 Operating Expenses 122,600 Net Income $ 35,500 Compute inventory turnover rate for the year. (Round to two decimal places.) Compute days' sales in inventory for the year. (Round to two decimal places.) What will be an ideal response

Misdemeanors are typically punishable by a fine

Indicate whether the statement is true or false