Answered: Annual net sales are $3,500,000, cost…

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

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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Question

Kindly help me with this question general Accounting question

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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