Stoney Brooke, Inc. has sales of $890,000 and cost of goods sold of $640,000. The firm had

Question:

Stoney Brooke, Inc. has sales of $890,000 and cost of goods sold of $640,000. The firm had a beginning inventory of $36,000 and an ending inventory of $46,000. What is the length of the inventory period?

A. 15.24 days

B. 15.61 days

C. 21.19 days

D. 21.71 days

E. 23.38 days

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...