Your company had $10 million in sales last year. Its cost of goods sold was $7 million

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Your company had $10 million in sales last year. Its cost of goods sold was $7 million and its average inventory balance was $1,200,000. What was its average days of inventory?

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Fundamentals of Corporate Finance

ISBN: 978-0132148238

2nd edition

Authors: Berk, DeMarzo, Harford

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Question Posted: Jan 14, 2012 02:17 AM

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Your company had $10 million in sales last year. Its cost of goods sold was $7 million

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Fundamentals of Corporate Finance

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