Question: Based on the following data for the current year, what is the number of days' sales in inventory? Net sales on account during year $479,329

Based on the following data for the current year, what is the number of days' sales in inventory?

Net sales on account during year $479,329
Cost of goods sold during year 155,959
Accounts receivable, beginning of year 49,911
Accounts receivable, end of year 47,423
Inventory, beginning of year 34,112
Inventory, end of year 42,513

Do not round interim calculations. Round your final answer up to the nearest whole day.

Select the correct answer.

90 days

4 days

114 days

365 days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!