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