1.An analyst has gathered the following information about a company: Cost of goods sold = 65% of...
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Question:
1.An analyst has gathered the following information about a company:
Cost of goods sold = 65% of sales.
Inventory of $450,000.
Sales of $1 million.
What is the value of this firm's average inventory processing period using a 365-day year?
A.252.7 days.
B.1.4 days.
C.0.7 days.
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Auditing A Risk Based Approach to Conducting a Quality Audit
ISBN: 978-1305080577
10th edition
Authors: Karla Johnstone, Audrey Gramling, Larry E. Rittenberg
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