Homework Help is Here – Start Your Trial Now!
Business
Accounting
Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $12.00 million. What was the days Inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) OA 30 days OB. 122 days OC. 161 days

Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $12.00 million. What was the days Inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) OA 30 days OB. 122 days OC. 161 days

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
34
Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $12.00 million. What was the days' inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) OA. 30 days O B. 122 days OC. 161 days O D. 21 days Next MacBook Air esc 80 88 DII DD F4 FS F7 FB F9 F10 F12 @ 23 24 & 2 3 4 6 8. delete Q W E R T Y { tab A S D G H J K caps lock .. .- -
Transcribed Image Text:Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $12.00 million. What was the days' inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) OA. 30 days O B. 122 days OC. 161 days O D. 21 days Next MacBook Air esc 80 88 DII DD F4 FS F7 FB F9 F10 F12 @ 23 24 & 2 3 4 6 8. delete Q W E R T Y { tab A S D G H J K caps lock .. .- -
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Market Efficiency
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS