Your company had $16 million in sales last year. Its cost of goods sold was $11.2 million

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Your company had $16 million in sales last year. Its cost of goods sold was $11.2 million and its average inventory balance was $1,400,000. What was its average days of inventory? (Hint use a 365-day year.) The average days of inventory was ___days.

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Financial Accounting: A Business Process Approach

ISBN: 978-0136115274

3rd edition

Authors: Jane L. Reimers

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Posted Date: Aug 26, 2020 09:17 AM

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Your company had $16 million in sales last year. Its cost of goods sold was $11.2 million

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Financial Accounting: A Business Process Approach

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