Riverside Retail reports the following financial data for the fiscal year: • Net Sales: $48 million • Cost of Goods Sold: $32 million Beginning Inventory: $8 million . Ending Inventory: $10 million Calculate the days' inventory outstanding (DIO). Round to the nearest day.

Riverside Retail reports the following financial data for the fiscal year: • Net Sales: $48 million • Cost of Goods Sold: $32 million Beginning Inventory: $8 million . Ending Inventory: $10 million Calculate the days' inventory outstanding (DIO). Round to the nearest day.

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 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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