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Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $620,500 Inventories: Beginning of year 230,000 End of year 130,000 Determine the days' sales in inventory for the year. a. 135.3 days b. 76.5 days O c. 105.9 days d. 58.8 days

Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $620,500 Inventories: Beginning of year 230,000 End of year 130,000 Determine the days' sales in inventory for the year. a. 135.3 days b. 76.5 days O c. 105.9 days d. 58.8 days

FINANCIAL ACCOUNTING
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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Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $620,500 Inventories: Beginning of year 230,000 End of year 130,000 Determine the days' sales in inventory for the year. a. 135.3 days b. 76.5 days c. 105.9 days O d. 58.8 days
Transcribed Image Text:Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $620,500 Inventories: Beginning of year 230,000 End of year 130,000 Determine the days' sales in inventory for the year. a. 135.3 days b. 76.5 days c. 105.9 days O d. 58.8 days
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