Hii ticher please given answer Calculate the Inventory Days on hand, assuming:SalesGross Margin$400,00050%Opening Inventory $40,000Closing Inventory $60,000a. 365 Daysb. 4 Daysc. 91 Daysd. 50 Days

Step 1: Define InventoryAll the items that a business keeps on hand for production or sales to…

Answered: Calculate the Inventory Days on hand,…

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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Calculate the Inventory Days on hand, assuming: Sales Gross Margin $400,000 50% Opening Inventory $40,000 Closing Inventory $60,000 a. 365 Days b. 4 Days c. 91 Days d. 50 Days