Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $512,919 Cost of merchandise sold during year 196,085 Accounts receivable, beginning of year 41,748 Accounts receivable, end of year 52,731 Merchandise inventory, beginning of year 33,126 Merchandise inventory, end of year 41,076 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.138 days b.76 days c.62 days d.69 days
Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $512,919 Cost of merchandise sold during year 196,085 Accounts receivable, beginning of year 41,748 Accounts receivable, end of year 52,731 Merchandise inventory, beginning of year 33,126 Merchandise inventory, end of year 41,076 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.138 days b.76 days c.62 days d.69 days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year.
| Sales on account during year | $512,919 |
| Cost of merchandise sold during year | 196,085 |
| 41,748 | |
| Accounts receivable, end of year | 52,731 |
| Merchandise inventory, beginning of year | 33,126 |
| Merchandise inventory, end of year | 41,076 |
Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.
a.138 days
b.76 days
c.62 days
d.69 days
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