Answered: Annual net sales are $4,800,000, cost…

Annual net sales are $4,800,000, cost of goods sold is $2,400,000, and average inventory is $120,000. How many days sales are in inventory? A) 18.3 B) 22.4 C) 18.25 D) 24.6

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 $4,800,000, cost of goods sold is $2,400,000, and average inventory is
$120,000. How many days sales are in inventory?
A) 18.3
B) 22.4
C) 18.25
D) 24.6

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