Question: Average days in inventory is calculated as 3 6 5 divided by the inventory turnover ratio. average inventory divided by 3 6 5 . 3

Average days in inventory is calculated as
365 divided by the inventory turnover ratio.
average inventory divided by 365.
365 divided by gross profit.
cost of goods sold divided by average inventory.
Average days in inventory is calculated as 3 6 5

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!

Q:

Need help calculating the following rations based on the above info: 1 . Inventory turn around ration 2 . average days in inventory 3 . Recievable turnover ratio 4 . average collection period 5 ....

Q:

Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit, selected balance sheet amounts at December 31 of the prior year were inventory. $51,900; total...

Q:

I have a question, I am finishing my final projects in accounting...can you please help me solve these last questions? a.) Prepare a horizontal analysis for 2025 using 2024 as the base year. (Note:...

Q:

Please make sure that you use excel spreadsheet to complete this assignment. G o to your textbook page P140-141 (Dayton Products, Inc) and provide solutions to spreadsheet exercise problems a, b, and...

Q:

ABC Company Ltd Statement of Changes in the Earnings For the years anded December 31, 2013 and December 1, 2013 in GHE Retained earnings, beginning of you Net profit Dividends on common shares...

Q:

For our final project we are going to analyze two companies Macys and Nordstrom. Our goal is to calculate and compare the financial statement and cash flow identify for both companies. i. Investing...

Q:

A B D F Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2012 2011 2012 2011 Sales $ 178,909 $ 187,510 Cost of Sales 111.631 Gross Operating Profit Selling, General & Admin....

Q:

RWP6-4 (Static) Comparative Analysis Continuing Case - American Eagle vs. Buckle Financial information for American Eagle is presented in Appendix A at the end of the book, and financial infor...

Q:

The financial statements of Ayayai Company appear below: AYAYAI COMPANY Comparative Balance Sheet December 31 2022 2021 Assets Cash $ 26,000 $ 40,200 Debt investments 17,400 66,700 Accounts...

Q:

6 Financial statements for Askew Industries for 2024 are shown below (in thousands): 2024 Income Statement 10 Net sales. points Cost of goods sold Gross profit Operating expenses Interest expense...

Q:

What is the meaning of term structure of interest rates?

Q:

(Ch 15 HW DNA Replication: Mechanism and Proteins Submit Request Answer Parental DNA First cycle Second cycle Part B - Processes occurring at a bacterial replication fork The diagram below shows a...

Q:

Need accounting question Last year Apex Industries had sales of $840,000, a turnover of 3.0, and a return on investment of 45%. The company's net operating income for the year was: a. $126,000 b....

Q:

A particle is moving in three dimensions and its position vector is given by; r(t) = (4, 4t + 2, 3t)i + (4, 5t - 2, 3)2 + (3, 3t + 3, 1t)k where r is in meters and t is in seconds. Determine the...