Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365-day year. Sales on account during year $451,116 Cost of goods sold during year 180,647 Accounts receivable, beginning of year 48,852 Accounts receivable, end of year 50,382 Inventory, beginning of year 37,064 Inventory, end of year 43,184 Do not round interim calculations. Round your final answer up to the nearest whole day. Oa. 5 Оb. 365 Ос. 100 Od. 81

Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365-day year. Sales on account during year $451,116 Cost of goods sold during year 180,647 Accounts receivable, beginning of year 48,852 Accounts receivable, end of year 50,382 Inventory, beginning of year 37,064 Inventory, end of year 43,184 Do not round interim calculations. Round your final answer up to the nearest whole day. Oa. 5 Оb. 365 Ос. 100 Od. 81

Name: Based on the following data for the current year, what is the number
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Description: Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365-day year.Sales on account during year$451,116Cost of goods sold during year180,647Accounts receivable, beginning of year48,852Accounts recei

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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Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $164,000; beginning inventory $116,000; cost of goods sold $364,000 and sales revenue $764,000. What is the inventory turnover for this question? What are the the days in inventory for Oakley, Inc?
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