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Annual net sales are $3,500,000, cost of goods sold is $1,750,000, and average inventory is $58,000. How many days sales are in inventory? A) 15.6 B) 12.1 C) 8.2 D) 21.3

Annual net sales are $3,500,000, cost of goods sold is $1,750,000, and average inventory is $58,000. How many days sales are in inventory? A) 15.6 B) 12.1 C) 8.2 D) 21.3

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Annual net sales are $3,500,000, cost of goods sold is $1,750,000, and average inventory is $58,000. How many days sales are in inventory? A) 15.6 B) 12.1 C) 8.2 D) 21.3
Transcribed Image Text:Annual net sales are $3,500,000, cost of goods sold is $1,750,000, and average inventory is $58,000. How many days sales are in inventory? A) 15.6 B) 12.1 C) 8.2 D) 21.3
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