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 $506,297

 Based on the following data for the current year, what is

Based on the following data for the current year, what is the number of days' sales in inventory? Net sales on account during year $506,297 Cost of goods sold during year 204,755 Accounts receivable, beginning of year 47,956 Accounts receivable, end of year 45,262 Inventory, beginning of year 32,501 Inventory, end of year 36,307 Do not round interim calculations. Round your final answer up to the nearest whole day. Select the correct answer. O 365 days 06 days 83 days 061 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!