Question: Financial statement data for years ending December 3 1 for Tango Company follow: Line Item Description 2 0 Y 7 2 0 Y 6 Cost

Financial statement data for years ending December 31 for Tango Company follow:
Line Item Description 20Y720Y6
Cost of goods sold $3,864,000 $4,001,500
Inventories:
Beginning of year 770,000740,000
End of year 840,000770,000 Determine the days sales in inventory for 20Y6. Use 365 days a year. Round your answers to one decimal place.

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!