Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) AED Beginning Merchandise Inventory 13,00,000 3,30,000 3,50,000 Ending Merchandise Inventory Calculate the average number of days that inventory was held by Kelley, Inc. during 2018, Assume 365 days in a year.

Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales) AED Beginning Merchandise Inventory 13,00,000 3,30,000 3,50,000 Ending Merchandise Inventory Calculate the average number of days that inventory was held by Kelley, Inc. during 2018, Assume 365 days in a year.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 4MC

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