Question: Compute the Days-in-Inventory for the Year End Dec-31 2016, given the Following; Cost of Goods Sold for 12-31-2016 =150,000 Cost of Goods Sold for 12-31-2015
Compute the Days-in-Inventory for the Year End Dec-31 2016, given the Following; Cost of Goods Sold for 12-31-2016 =150,000 Cost of Goods Sold for 12-31-2015 =200,000 Ending Inventory 12312016=60,000 Ending Inventory 12-31-2015 =20,000 Sales Revenues 12-31-2016 =$750,000 Sales Revenues 12312015=$900,000 Inventory Turnover Ratio = COGS / Average Inventory Days-in-Inventory =365 / Inventory Turnover Ratio 97 Days 49 Days None of These Choices 48 Days 146 Days
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