Anthony Corporation reported the following amounts for the year: Net sales $ 296,000 Cost of goods sold 138,000 Average inventory 50,000 Anthony's average days in inventory is: (Round to the nearest whole day.) Multiple Choice 170 days. 114 days. 132 days. 151 days.

Anthony Corporation reported the following amounts for the year: Net sales $ 296,000 Cost of goods sold 138,000 Average inventory 50,000 Anthony's average days in inventory is: (Round to the nearest whole day.) Multiple Choice 170 days. 114 days. 132 days. 151 days.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Anthony Corporation reported the following amounts for the year:


Net sales	$	296,000
Cost of goods sold		138,000
Average inventory		50,000

Anthony's average days in inventory is: (Round to the nearest whole day.)

Multiple Choice

170 days.
114 days.
132 days.
151 days.

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