Ivanhoe Corporation's computation of cost of goods sold is:Beginning inventory$64200Add: Cost of goods purchased540000604200Cost of goods available for sale93000Less: Ending inventory$511200Cost of goods soldThe average days to sell inventory for Ivanhoe are (Hint: Round intermediate calculation and final answer to 1 decimal place, eg O.6.)O 45.8 days.O 47.5 days.O 66.4 days.O 562 days.

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Business

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linventory for Ivanhoe are (Hint:

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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Question

Ivanhoe Corporation's computation of cost of goods sold is:
Beginning inventory
$64200
Add: Cost of goods purchased
540000
604200
Cost of goods available for sale
93000
Less: Ending inventory
$511200
Cost of goods sold
The average days to sell inventory for Ivanhoe are (Hint: Round intermediate calculation and final answer to 1 decimal place, eg O.6.)
O 45.8 days.
O 47.5 days.
O 66.4 days.
O 562 days.

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