number of days' sales in inventory ratio,Cost of goods soldBeginning inventoryEnding inventory$722,00053,00067,000

Formula: Number of days sales in inventory = 365 days / Inventory turnover ratio

Answered: number of days' sales in inventory…

Business

Accounting

number of days' sales in inventory ratio, Cost of goods sold Beginning inventory $722,000 53,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 16EA: Compute Altoona Companys (a) inventory turnover ratio and (b) number of days sales in inventory...

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number of days' sales in inventory ratio,
Cost of goods sold
Beginning inventory
Ending inventory
$722,000
53,000
67,000

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