On average, a firm sells $2,500,000 in goods per month. Cost of goods sold equals 60 percent
Fantastic news! We've Found the answer you've been seeking!
Question:
On average, a firm sells $2,500,000 in goods per month. Cost of goods sold equals 60 percent of sales and always keeps inventory on hand equal to half the monthly cost of goods. If the firm analyzes its accounts using a 360-day year, what is the firm's inventory conversion time?
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
Posted Date: