Answer?? General Accounting question Net sales are $2,000,000, cost of goods sold is$960,000, and average inventory is $30,000. How manydays sales are in inventory?A) 12.2B) 66.7C) 11.4D) 2.6

Step 1: Define Financial Ratios:In management accounting, financial ratios are tools that can be…

Answered: Net sales are $2,000,000, cost of goods…

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 46E

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Net sales are $2,000,000, cost of goods sold is $960,000, and average inventory is $30,000. How many days sales are in inventory? A) 12.2 B) 66.7 C) 11.4 D) 2.6