On January 1, your firm's beginning inventory was $2,000,000. During the year, the firm purchased $8,200,000 of additional inventory, and on December 31, its ending inventory was $1,300,000. What was your firm's days inventory held for the year? A. 89 days B. 365 days C. 57 days D. Not possible to estimate days inventory held. E. 67 days

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On January 1, your firm's beginning inventory was $2,000,000. During the year, the firm
purchased $8,200,000 of additional inventory, and on December 31, its ending inventory
was $1,300,000. What was your firm's days inventory held for the year?
A. 89 days
B. 365 days
C. 57 days
D. Not possible to estimate days inventory held.
E. 67 days
Transcribed Image Text:On January 1, your firm's beginning inventory was $2,000,000. During the year, the firm purchased $8,200,000 of additional inventory, and on December 31, its ending inventory was $1,300,000. What was your firm's days inventory held for the year? A. 89 days B. 365 days C. 57 days D. Not possible to estimate days inventory held. E. 67 days
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