Assume the following data: Sales = 3200; Cost of goods sold = 1600; Average total assets = 1600; Average inventory = 200. Calculate the days in inventory.
A) 18.3
B) 45.6
C) 22.8
D) 16.0
Answer: B) 45.6
Average Days in Inventory = (Inventory at beg. of the year)/(COGS/365) = 200/(1600/365)= 45,6
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