Question: 114. I am need help solving this problem for my corporate finance homework and was hoping someone could help me with it and provide work
Your company had $20 million in sales last year. Its cost of goods sold was $14.0 million and its average inventory balance was $1,250,000. What was its average days of inventory? (Hint: Use a 365-day year.) The average days of inventory was days. (Round to two decimal places.)
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