Carey's Department Store had net sales of $20 million and cost of goods sold of $10.00 million for the year. The beginning inventory for the year was $5.00 million. The ending inventory for the year was $6.00 million. What was the days' inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) A. 73 days B. 61 days C. 201 days D. 37 days

Carey's Department Store had net sales of $20 million and cost of goods sold of $10.00 million for the year. The beginning inventory for the year was $5.00 million. The ending inventory for the year was $6.00 million. What was the days' inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) A. 73 days B. 61 days C. 201 days D. 37 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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